No, this account doesn’t allow part withdrawals. Withdrawing the whole amount will close the account, which will result in loss of interest.
If you do close the account early you’ll be charged an early access charge. The amount charged will depend on the term of the Fixed Rate Bond. This will be equivalent to the number of days interest accrued at the current rate of your Fixed Rate Bond as detailed in the table below.
||Early Access Charge
|1 Year Fixed Rate Bond
||90 days interest
|2 Year Fixed Rate Bond
||180 days interest
If there is insufficient earned interest to cover the early access charge then the charge will be taken from the funds in the account. The funds in the account, together with any interest earned and minus the early access charge, will be paid to you on closure of the account.
At the end of the term, your Fixed Rate Bond will mature into a Fixed Term Bond Maturity account, giving instant access to your money. Part withdrawals from a Fixed Term Bond Maturity account are only permitted through our Internet Bank. If you want to take money out in a branch, the account must be closed or all of the funds transferred to another account. We’ll contact you before your Bond matures with more information. Alternatively you can choose to transfer your balance to another Nationwide account, held in either your name or a third party’s name(s).