Product update: MySave Online Plus and Smart Fixed Rate Bond

01 June 2012

Nationwide Building Society today launches new issues of its MySave Online Plus and Smart Fixed Rate Bond.


New MySave Online Plus customers who make no more than one withdrawal a year will receive a competitive rate of 3.06% AER (3.02% gross p.a.) including a fixed bonus of 1.52% gross p.a. payable for 12 months.

Existing MySave Online Plus customers who opened their account before this date will be unaffected by this change.

Customers can make one free withdrawal per annum. Those making further withdrawals, including closure can do so, but will receive a lower rate and no bonus in the month they make a withdrawal.1


The Smart Fixed Rate Bond has a one-year term and pays an annual interest rate of between 2.45% and 2.70% AER/ gross p.a. (annual interest) depending on the amount invested.

From 31 May 2012, MySave Online Plus (Issue 6), Flexclusive ISA and the previous issue of Smart Fixed Rate Bond were withdrawn.

Notes to editors:

* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest were paid and compounded once each year. The gross rate of interest is the interest rate payable before any income tax is deducted (if customers do pay tax).


1Customers making more than one withdrawal, including closure, in a 12 month rolling period will receive 0.10% gross p.a./AER (variable) interest for the month in which they make the withdrawal, and will receive no bonus for that month.

Interest Rates No withdrawal in any given month2 Withdrawal made in any given month2
AER* (variable) Gross p.a.* (variable) Net p.a.* (variable) Gross p.a./AER (variable) Net p.a. (variable)
£1+ 3.06% 3.02% 2.42% 0.10% 0.08%

*Rates include a fixed rate bonus of 1.52% gross p.a. payable for the first 12 months on the account.

2Your first withdrawal in a 12 month period will not result in a lower rate of interest or loss of bonus.

  • To open and operate MySave Online Plus, customers will need a UK account, held in their name, which accepts direct debits. This nominated account will be used to pay money into and out of their MySave Online Plus account.
  • The minimum opening balance is £1,000 and the maximum investment is £5 million.
  • Minimum operating balance is £1.


Interest Rates: Smart Fixed Rate Bonds - correct on Friday 1 June 2012

One-year Smart Fixed Rate Bond (annual) AER Gross p.a. Net p.a.
£50,000+ 2.70% 2.70% 2.16%
£25,000 - £49,999 2.60% 2.60% 2.08%
£10,000 - £24,999 2.50% 2.50% 2.00%
£1 - £9,999 2.45% 2.45% 1.96%
One-year Smart Fixed Rate Bond (monthly) AER Gross p.a. Net p.a.
£50,000+ 2.68% 2.65% 2.12%
£25,000 - £49,999 2.58% 2.55% 2.04%
£10,000 - £24,999 2.48% 2.45% 1.96%
£1 - £9,999 2.43% 2.40% 1.92%

Smart Fixed Rate Bond
Availability Via Branch
Withdrawals On closure only, subject to 90 days loss of interest
Deposits Once opened additional deposits are not permitted
Min. opening balance £1
Min. operating balance £1

About Nationwide Building Society
Nationwide is the world's largest building society as well as one of the largest savings providers and a top-three provider of mortgages in the UK. It is also a major provider of current accounts, credit cards, ISAs and personal loans. Nationwide has around 15 million members.

Since the credit crunch began in 2007, Nationwide has remained profitable against a very difficult economic environment. In the full year ending April 2012 Nationwide made a strong underlying profit of £304 million - up 10% from the previous year.

Customers can manage their finances in branch, on the telephone, internet and post. The Society has around 16,000 employees. Nationwide's head office is in Swindon with administration centres based in Northampton, Bournemouth and Dunfermline. The Society also has a number of call centres across the UK.

Please note: If you are a customer looking for information on our products and services, please visit the main website.