NatWest and RBS launch pensioner savings account
With interest rates plummeting on many savings accounts, NatWest and RBS have launched new savings products to help pensioners feeling the pinch.
Many pensioners rely on interest from their savings as a source of income. Because of this, the two banks have launched their own specialist savings account for over 60s and for those drawing a pension.
The Pensioner Fixed Rate Account offers interest of up to 4% over two years. Minimum balance is £5,000.
NatWest has also launched a new Telephone Saver PLUS account for the over 50′s, providing unlimited instant access to savings and a top rate of 2.80%. Minimum balance is £25,000.
Carol Sleith, NatWest and RBS head of savings, said: “Many individuals over the age of 50 rely on their savings for income.
“By introducing two new accounts, we are able to further meet the savings needs of our customers and offer a choice of ways to save.”