what's the difference between the e-savings and savings directs in the bank of Natwest?

Question

I'm a international student, so i don't clear about it, is there any body help me? thank a lot

Answer 1

First thing I notice is that the e-savings account has the better interest rate at 5.2% unlike the savings direct account which is 4.7%-4.95% depending on balance. Besides that it looks like the only other difference is that the e-savings account is only accessible online where the savings direct accounts are online, phone and post/mail accessible.

Answer 2

I don't know about Natwest specifically. In general e-savings means you sign up on-line and receive no paper statements. ALL communication is conducted on-line. Such accounts often offer higher rates because they cost the bank less to maintain.