NatWest introduces incentives to tempt savers

NatWest has introduced a range of incentives it hopes will encourage customers to save with them.

Both new and existing customers will receive up to £100 if they take advantage of their full individual savings account (ISA) allowance.

The bank is also running a savings and investments prize draw, offering savers the chance to win up to £10,000 cash and a gold Annabel NatWest model pig.

Entry to the draw requires opening a new savings account, or taking out an investment product, by the cut off date of April 16th 2007.

A paint-your-own-pig piggy bank has been introduced for young people opening an account, with under 11s being promised a return of 5.25 per cent on their savings.

Helen Page, NatWest marketing director, said: “Savings are high on the list of priorities when it comes to personal finances, and it is important for NatWest to continue to encourage a savings culture amongst customers of every age.”

Last month, the bank raised the rate of its standard variable mortgages by 0.30 per cent to 7.44 per cent, in addition to increasing the rate on its Offset Flexible Mortgage product to 6.20 per cent.

© Adfero Ltd

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