Instant Access Savings Account

A simple way to save

Earn 4.50% AER / 4.41% Gross p.a. (variable), including a fixed bonus rate of 1.50% AER for 12 months.

After the 12-month bonus period ends, the standard variable rate will apply.

Start saving today Open in new window

Why choose First Active?

Earn interest on your savings. You can benefit from interest designed to help your money grow.
Access your savings whenever you need to. Add or withdraw money online at any time without fees or restrictions.
Backed by NatWest. Save with confidence knowing First Active is part of NatWest Group.
FSCS protection. Eligible deposits are protected by the Financial Services Compensation Scheme, subject to applicable limits and eligibility criteria.

Put your savings to work

Keep access to your money while earning interest.

Open your account online in a few steps.

Add money quickly from your UK bank account.

Save between £1 and £1 million.

What is the interest rate?

Balance	Interest rate without bonus	Interest rate with bonus (Includes a bonus rate for 12 months from the date your account is opened)
£0 - £1,000,000	3.00% AER (variable) / 2.96% Gross p.a. (variable)	4.50% AER (variable) / 4.41% Gross p.a. (variable)

Interest is calculated on a daily basis and paid into your account on the first day of the month. You’ll be able to see and access the interest in your account on the following day.

You can find more details about the introductory bonus interest rate in the Additional information section below.

About this account

Below is a summary of key information about this account. You should read it carefully before applying.

Summary box

Account name: Instant Access Savings Account with bonus rate

Can First Active change the interest rate?

The bonus rate is fixed during the 12 month offer period. The standard rate is variable and may go up or down. There are a few reasons for this, such as a change in the Bank of England base rate. If the rates are going down and your balance is £100 or more, we'll give you at least 14 days' notice. If the rates are going down and your balance is less than £100, we'll inform you before the change or shortly afterwards. If the rates are going up, we'll inform you before the change or shortly afterwards. You can find a full list of reasons for an interest rate change and more detail about how we’d tell you about a change in the Instant Access Savings Account Terms (PDF, 409 KB).

How do I open and manage my account?

To be eligible for this account, you’ll need to:

Be a UK resident with a UK address
Be aged 18 or over
Have a UK mobile number
Have UK tax residency only
Have an open UK personal account that can be used as a nominated account

If you need to manage your account, you can do this by contacting us online, via email or by telephone.

Payments in and out can only be made to and from your nominated account.

You can only have one Instant Access Savings Account and it needs to be in your name. Joint accounts aren’t allowed.

The maximum balance that can be held within this account is £1,000,000.

The minimum balance that can be held within this account is £0.

Can I withdraw money?

Yes, you can withdraw your money from this account at any time by moving the amount you want to your nominated account.

You can only withdraw up to £10,000 from your account in each transaction and £20,000 over a rolling 24 hour period.

If you close your nominated account you will need to set up a new nominated account in order to withdraw money.

Additional information

Bonus interest – additional terms

The bonus interest rate will be added to the standard variable rate from the date your account is opened. This will apply for 12 months. After 12 months, the bonus rate will end and only the standard variable rate will apply.

We’ll give you 14 days’ notice in advance of the bonus rate coming to an end.

Definitions

Annual Equivalent Rate (AER)

The interest rate if interest is paid and compounded once each year. AER helps you to compare the rates of interest on different accounts.

Compound interest

Interest earned on interest that’s already been paid.

Gross Rate

The interest rate you are paid on your savings with no compounding.

p.a.

Per annum (per year)

Tax-free

We pay all savings interest without the deduction of tax. You may have to pay tax on interest earned depending on your Personal Savings Allowance. The tax treatment may be subject to change in the future.

What would the estimated balance be after 24 months based on a range of deposits?

Initial deposit	Balance after 12 months	Balance after 24 months
£1,000	£1,045.08	£1,076.49
£50,000	£52,250.20	£53,818.02
£100,000	£104,500.29	£107,635.87

These examples assume no other deposits or withdrawals are made, there are no interest rate changes, and the interest earned stays in the account. The bonus rate applies for the first 12 months from the date the account is opened. After 12 months, the bonus rate ends and only the standard variable rate applies.

Important documents

Instant Access Savings Account Terms and Information Sheet (PDF, 409 KB)
FSCS Information Sheet and Exclusions List (PDF, 546 KB)

If you carry on applying, it means you're happy with what's in these documents, including the FSCS information sheet. Please take some time to review, print and/or save the important information.

Open an account in minutes

What you’ll need to apply:

Be over 18, UK resident and a UK tax payer.
Have a UK personal bank account.
Have a UK mobile number.

Apply now Open in new window

Powered by NatWest

First Active is a trading name of National Westminster Bank Plc (NatWest), which is part of NatWest Group, one of the UK's leading banking groups. That means you can enjoy straightforward digital savings with the reassurance of an established banking provider.

Eligible deposits you hold across all NatWest brands, including First Active, are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 in total.

Learn more about FSCS protection Open in new window