What interest rate does the NatWest Fixed Term Savings 2 Year pay?

The NatWest Fixed Term Savings 2 Year pays 4.15% AER, fixed for 2 years. Up to 4.25% on some tiers.

How much interest could I earn?

Saving £10,000 for 2 years would earn about £847 at 4.15% AER. This assumes the rate stays the same and interest stays in the account.

How much can I pay in?

You can deposit at least £1 and up to £3,000,000.

Can I withdraw my money?

No. Your money is locked in until the fixed term ends, so only put in what you won't need before then.

When is interest paid?

You can choose to have interest paid monthly or at the end of the term.

Who can open this account?

New and existing NatWest customers can open it. You can open it online or in the app.

Is my money protected?

Yes. Eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per person, per banking licence.

How does it compare with other two-year fixed rate bonds?

At 4.15% AER it ranks 56th of 63 two-year fixed rate bonds we track. The best pays 5.16% and the average is 4.61%.

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Fixed Rate

NatWest Fixed Term Savings 2 Year Review

A two-year fixed rate bond from NatWest. It ranks 56th of 63 two-year fixed rate bonds we track.

Rate checked Oct 2026Got this account? Leave a review

Fixed rate · 2 years

4.15%AER

Up to 4.25% on some tiers

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£1

Max balance

£3,000,000

Access

At maturity only

Interest paid

Monthly/On maturity

NatWest is also paying up to £500 to switch your current account.

See the switch offer

Rate Tiers

£1 – £99,999

4.15%AER

£100,000 – £3,000,000

4.25%AER

How It Stacks Up

Ranks 56th of 63

2-year fixed bonds we track

Below average

This account 4.15%

UK CPI (Aug 2026): 3.10%; Pays 1.05% more
Average 2-year fixed: 4.61%; Pays 0.46% less
Best 2-year fixed: 5.16%; Pays 1.01% less

Inflation: ONS. Averages and best rates: accounts on DepositScout.

Compare fixed bonds

A Good Fit For

Pro: New and existing savers
Pro: Savers who want a monthly income

Worth Weighing Up

Con: Your money is locked in for 2 years

Good to Know

Interest can be directed to a nominated NatWest personal current or savings account (excluding cash ISAs); early closure charges may apply.

Please verify all details with the provider – see our Disclaimer

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Estimated returns with NatWest's Fixed Rate

What you could earn with NatWest's Fixed Term Savings 2 Year.

Estimated interest

£1,000 saved

£84.72

At 4.15% AER

£5,000 saved

£424

At 4.15% AER

£10,000 saved

£847

At 4.15% AER

£3,000,000 saved

£260,419

At 4.25% AER

Estimated over the 24-month term, if the rate stays the same and interest is left in. Amounts outside the account's minimum or maximum aren't shown.

Work out the tax on your interestSee how much of this interest could be taxed.

Our Expert Opinion on NatWest Fixed Term Savings 2 Year

Jan WatermannCo-Founder, DepositScout

NatWest's Fixed Term Savings 2 Year pays 4.15% for balances up to £99,999, rising to 4.25% if you have £100,000 or more, and the rate does beat August 2026 CPI of 3.1% by 1.05%. That said, at 1.20% below the fixed-rate market leader at 5.35%, this sits below the market average, so it is hard to recommend over alternatives like Kent Reliance's 2 Year Fixed Rate Bond at 4.91%. The other real catch is that your money is completely locked away for two years, and early closure charges may apply if you need it back sooner.

Compare Fixed Rate Bonds