Overview
- NatWest introduced First Active this week, offering an easy-access account paying 4.5% made up of a 3% base rate plus a 1.5% bonus that lasts 12 months.
- First Active accounts open from £1 up to £1 million, are managed online or by phone only, and do not provide in-branch support.
- Existing NatWest customers moving money into First Active retain statutory FSCS protection on eligible deposits, as reported by the bank.
- Savers should note the bonus expiry and any product limits because rates revert to the lower base rate after 12 months and some competitor offers cap interest-earning balances.
- The launch reinforces a wider trend of major UK banks using digital offshoots or partner platforms to offer higher short-term rates while keeping lower rates on their main-brand accounts and branch channels.