Saga Money launches partnership with NatWest

14 July 2025

Saga plc

Saga Money launches seven-year partnership with NatWest Boxed to deliver innovative savings products for people over 50

Further to the AGM trading update on 24 June 2025, Saga plc (Saga) has today announced it has entered into a seven-year partnership with NatWest Boxed, NatWest Group's (NatWest) banking-as-a-service business. This will see the launch of an innovative suite of savings products that recognises, and caters for, the distinct needs and preferences of people over 50.

This long-term strategic partnership combines NatWest's scale and Boxed's platform, operational and compliance expertise with Saga's extensive insight and experience in the market for people over 50. It will enable Saga to expand its range of financial services, initially through an improved instant access savings product, with additional savings and other financial services products expected in due course.

This collaboration will enable Saga to offer easy-to-use products and services, drive increased volume and improved commercial terms, and deliver accessible and reliable customer service.

The new partnership will facilitate an extension of Saga Money's offer, building on Saga's belief that people over 50 across the UK deserve a suite of products that are designed to cater for their needs.

The new instant access savings product, developed through the NatWest partnership, will replace Saga's current Goldman Sachs instant access savings product for new customers and will be launched later this year. There will be no change for existing customers who already hold a Saga instant access savings product, with the Goldman Sachs contract continuing to the September 2028 expiry date.

Jerry Toher, CEO of Saga Money, said:

"As the UK's specialist in providing products for people over 50, this launch is an exciting next step in enhancing our Money offer. This will further strengthen our position in providing competitive and flexible savings products, ensuring that Saga remains the most-trusted brand for people over 50 in the UK. I look forward to working with NatWest Boxed as we continue our strategy of delivering great value products to support customers with their savings goals."

Andrew Ellis, CEO of NatWest Boxed, said:

"Trusted brands are well positioned to reward customers for their loyalty, while keeping their best interests at heart. This partnership is a testament to how leading firms, like Saga, can deploy new technology like embedded finance to offer specialised products and services at the point of need, provide additional value to customers and drive sustainable behaviours. We're proud to partner with a brand like Saga, as they grow and optimise their offer, and it is a significant step in our journey to be the leading embedded finance partner in the UK."

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