Features and benefits

Rates and information

Flexclusive Saver interest rates and account information

Please make sure that you have read and understand this important information before applying for this account.

Interest rates

Interest rates
Savings account balance AER % AER % (includes bonus) Gross % (p.a.) Net % (p.a.)
£1+ 1.20% n/a 1.20% 0.96%

Effective from 22 August 2014

 

Summary box

Summary box
Key product information for our Flexclusive Saver Issue 6
Account Name Flexclusive Saver Issue 6
Interest Rates (AERs) See the 'Interest rates' table above
Tax Status

Interest is paid net of basic rate tax, depending on your status*.

Conditions for bonus payment

n/a

Withdrawal arrangements

Instant access

Access

Branch

* Interest is calculated daily and paid annually on 31 December.

Opening your account

Opening your account
Minimum & maximum balances
  • £1 minimum opening balance
  • £1 minimum operating balance
  • £5,000,000 maximum balance
How to open You can open a Flexclusive Saver account in any Nationwide branch
Eligibility To apply for a Flexclusive Regular Saver account you must either:
  • Hold a FlexAccount with a Visa debit card (not cash card or cash card+) and:
    • Have been paying in £750+ a month (excluding internal transfers) for the last 3 months;
      or
    • Complete an account switch to us (from a non-Nationwide account) using our Current Account Switch Team or have done so in the last 4 months; or 
  • Hold a FlexDirect or FlexPlus account
 
If a joint application is made only the first named account holder must meet the main current account customer eligibility criteria.
Maximum number of savings account holders 2
Minimum age 18

Managing your money

Managing your money
Paying in You can:
  • pay in over the counter at any Nationwide branch
  • set up a regular standing order
  • transfer money in online from a Nationwide current account or instant access savings account
Taking money out Withdrawals can be made:
  • by cash (up to £500 per day) or cheque (up to £500,000 per day) at any Nationwide branch
  • by transfer to another Nationwide account at any Nationwide branch
  • by CHAPS or Overseas Electronic Transfer (please note there is a charge for this service)
  • transfer money to another Nationwide account, using Internet Banking
Keeping track of your money Your passbook provides the record of transactions. A statement will be sent to you annually. A full statement is available on the Internet Bank.
Interest Interest is calculated daily and paid annually on 31 December. You can choose to have it paid into your Flexclusive Saver account, your current account, or another Nationwide savings account (excluding Regular Savings and Flexclusive Regular Saver).

Terms and conditions

In addition to the general terms and conditions, the following conditions apply to Flexclusive Saver. If there is a conflict between the general terms and conditions and these Flexclusive Saver conditions, the Flexclusive Saver conditions will take priority.

Account holding and ownership

  1. This account is available to customers aged 18 or over who meet one of the following two criteria:
    1. Hold a FlexAccount with a Visa debit card (not cash card or cash card+) and:
      1. Have been paying in £750+ a month (excluding internal transfers) for the last 3 months; or
      2. Complete an account switch to us (from a non-Nationwide account) using our Current Account Switch Team or have done so in the last 4 months; or
    2. Hold a FlexDirect or FlexPlus account.
  2. The account can have a maximum of two joint account holders and only the first named account holder must meet the eligibility criteria
  3. The minimum deposit to open the account is £1, with a minimum operating balance of £1
  4. The maximum balance on the account is £5 million
  5. Nationwide reserves the right to limit the number of Flexclusive Saver accounts you can have
  6. If you no longer meet the eligibility criteria we may transfer the account to a Nationwide CashBuilder account or nearest equivalent instant access account to CashBuilder

Interest

  1. Interest is paid annually on 31 December each year into the account, a Nationwide current account or savings account (excluding Regular Savings) or a current account with another bank or building society
  2. We will calculate interest on each whole pound in the account
  3. The interest rate payable on the account is variable
  4. At any time that the interest rate is linked to the Bank of England base rate, changes to the rate will take place within one month of a change to the base rate

Taking money out

  1. You can withdraw any available funds in the account without notice or loss of interest.

Ready to open a Flexclusive Saver account?

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Fixed Rate e-Bonds

If you can save a lump sum without needing to access it take a look at our savings bonds where you'll get a fixed rate of interest for the term of your account.

ISAs explained

ISAs are a tax-efficient way to save. Visit our ISAs explained section to find out what ISAs are, how they work and for more information on ISA limits.

Jargon explained

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
AER includes conditional bonus (if applicable)
The gross rate of interest is the interest rate payable before any income tax is deducted (if you do pay tax).
The net rate of interest is the interest payable after any income tax is deducted (if you do pay tax).
Tax-free is the contractual rate of interest payable where interest is exempt from income tax.
The tax information provided is based on our current understanding of current law and HM Revenue & Customs practice which can change.

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Financial Services Compensation Scheme

Protecting your money

Find out more - Financial Services Compensation Scheme

Managing your account

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