Product update

13 February 2015

From today, Friday 13 February, Nationwide Building Society is launching new issues of its fixed rate bonds and fixed rate ISAs.

The new rates of annual interest for balances of £1 or more are:

  • One-year Fixed Rate ISA paying 1.45% tax-free/AER
  • Two-year Fixed Rate ISA paying 1.65% tax-free/AER
  • Three-year Fixed Rate ISA paying 1.80% tax-free/AER
  • Six-month Fixed Rate Bond and e-Bond paying 1.00% gross p.a./AER
  • One-year Fixed Rate Bond and e-Bond paying 1.25% gross p.a./AER
  • Two-year Fixed Rate Bond and e-Bond paying 1.45% gross p.a./AER
  • Three-year Fixed Rate Bond and e-Bond paying 1.65% gross p.a/AER

In addition, the Society is also launching new issues of Flexclusive Saver, Limited Access Saver and Loyalty Saver. The new rates of annual interest for balances of £1 or more are as follows:

  • Flexclusive Saver Issue 7 paying 0.90% gross p.a./AER
  • Limited Access Saver Issue 3 paying 0.90% gross p.a./AER
  • Loyalty Saver Issue 6 paying up to 1.20% gross p.a./AER depending on the length of the customer’s membership with the Society. The longer the membership, the greater the rate received.

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).

Tax-free is the contractual rate of interest payable where interest is exempt from income tax.

Parity on Fixed Rate Bonds and Fixed Rate ISAs

As part of the Nationwide Savings Promises, the Society guarantees its Fixed Rate ISA rates will match or beat its equivalent Bond rates.

Further details on all Nationwide’s Savings Promises.

Opening accounts

Fixed Rate Bonds and Fixed Rate ISAs are available from Nationwide branches. E-Bonds are available from www.nationwide.co.uk.

Early closure

Early closure
Term of bond Three years Two years One year or less
Loss of interest 270 days 180 days 90 days

Loyalty Saver

To qualify for Loyalty Saver, applicants must have had a continuous Nationwide membership for a minimum of one year and must be aged 18 or over. One account per customer in single or joint name. If a joint account is opened, the longest length of membership will be used to determine the interest rate tier.

Rates for Loyalty Saver Issue 6

Rates for Loyalty Saver Issue 6
Length of Membership AER / Gross p.a. Net p.a.
15 years or more 1.20% 0.96%
10 to 14 years 1.10% 0.88%
5 to 9 years 1.00% 0.80%
1 to 4 years 0.90% 0.72%

Flexclusive Saver

To be eligible for Flexclusive Saver, applicants must be a main Nationwide current account holder. This means customers must either:

  • Hold a FlexOne account and be 18 years or over, or hold a FlexAccount with a VISA debit card (not cash card or cash card+) and have: a) been paying in £750+ a month for the last three months (excluding internal transfers); or b) completed an account switch to Nationwide (from a non-Nationwide account) using our Current Account Switch Team in the last four months; or
  • Hold a FlexDirect or FlexPlus account

Full details of all Nationwide’s savings accounts.

About Nationwide

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 customers.

Customers can manage their finances in a branch, via the mobile app, on the telephone, internet and post. The Society has around 18,000 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.