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Instant Access Saver

An instant access savings account provides the flexibility and convenience to let you save or withdraw funds whenever you need to.

You can open an Instant Access Saver account with just £1 and manage your account online, by visiting a branch or by using any Nationwide cash machine. With a variable rate of interest that is calculated daily and paid annually, you can earn interest on your savings and access your money at any time.

Help with your savings

Our support pages have information on how to manage your account and view interest rates.

Go to Savings & ISA support

Summary Box

Account name

Instant Access Saver

What is the interest rate?

0.10% gross p.a./AER (variable)

Interest is calculated daily and paid into the account annually on 31 December and on closure.

You can choose to have interest added to your account, a Nationwide current or savings account (subject to the terms and conditions of the receiving account), or a current account with another bank or building society.

Can Nationwide change the interest rate?

Yes, the interest rate is variable. This means that we have the ability to change the interest rate. Please see the ‘Interest’ section in the Savings General terms and conditions which sets out when we can vary the interest rate and how we will notify you if this happens.

What would the estimated balance be after 12 months based on a £1,000 deposit?

The balance on an initial deposit of £1,000 with an interest rate of 0.10% gross p.a./AER (variable) over 12 months would be £1,001.00.

This estimated balance is for illustration only and assumes that:

  • Account opened on 1 January 2016
  • Interest is paid into the account
  • No further deposits or withdrawals are made
  • There is no change to the interest rate
  • Individual circumstances do not change.

How do I open and manage my account?

To open this account:

  • You need to be aged 16 or over
  • You can open this account with a minimum of £1 up to a maximum of £5,000,000.

You can open this account:

You can manage your account:

  • Via the Internet Bank or Banking app (if you are registered for Internet Banking)
  • In branch
  • If you have a card, using any Nationwide ATM (a card will only be provided if you open your account in branch or using our website).

Please note: you'll need a minimum of £1 in the account for it to operate.

It’s easy to move your savings between your existing Nationwide savings accounts or to open a new savings account with us. We can also close your existing savings account, if you want us to. Just let us know when you open a new account on nationwide.co.uk, via our Internet Bank or Banking app (if you're registered) or come and see us in branch.

Can I withdraw money?

Yes, this is an instant access savings account so you can get access to your money whenever you need it.

You can:

  • Withdraw up to £500 in cash a day or up to £500,000 by cheque at any of our branches.
  • If you have a card, you can withdraw up to £500 a day using any Nationwide cash machine.
  • Transfer money to another Nationwide current account or instant access savings account held in your name, using our Internet Bank or Banking app (if you’re registered for Internet banking).
  • Make transfers by CHAPS or Overseas Electronic Transfers in sterling (please note, this service is only available in branch and there is a fee payable).

Additional information

Interest rate definitions explained:

  • AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
  • Gross p.a. is the interest rate without tax deducted.

You may need to pay tax on any interest that exceeds your Personal Savings Allowance. For more information please visit HMRC’s website.

The tax information provided is based on our understanding of current law and HM Revenue & Customs practice, both of which may change.

The rates and information in this summary box are correct as of 1 December 2016.

This Summary Box sets out the key features of the savings account. For full details, please read the account terms and conditions.

Before you apply, please make sure you read the Summary Box and terms & conditions in full and print or save a copy of the PDFs below for future reference.