Features and benefits

Rates and information

Instant Access 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+ - £5,000,000 0.50% n/a 0.50% 0.40%

Effective from 26 February 2014

Rates are variable.

Summary box

Summary box
Key product information for our Instant Access Saver account
Account Name Instant Access Saver
Interest Rates (AERs) See the 'Interest rates' table above
Tax Status

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

Conditions for bonus payment n/a
Withdrawal arrangements Instant access
Access Nationwide cash machines, online and in branch

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

Opening your account

Opening your account
Minimum & maximum balances
  • Minimum balance £1
  • Maximum balance £5,000,000
How to open You can apply online or in any Nationwide branch
Maximum number of savings account holders 2
Minimum age 16

Managing your money

Managing your money
Paying in You can pay money in:
  • over the counter at any Nationwide Branch
  • by setting up a regular or one off payment from a current account
  • online, if you are registered for Internet Banking, from your Nationwide current account or instant access savings account
Taking money out Withdrawals can be made:
  • by cash up to £500 a day at Nationwide cash machines or larger amounts (up to £500,000 in the form of a cheque) at any of our branches
  • by transfer to another Nationwide current account or instant access savings account at any Nationwide branch or by using Internet Banking
  • by CHAPS or Overseas electronic transfer (please note there is a charge for this service)
Keeping track of your money A full statement is available on the Internet Bank. A statement will be sent to you annually. If you make a transaction a statement will be sent to you in that quarter.

Interest is calculated daily and paid annually on 31 December.

You can choose to add interest to your Instant Access Saver account, any of your Nationwide savings accounts, (excluding Regular Savings and Flexclusive Regular Saver), or your current account.

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

Account Holding and Ownership

  1. You must be aged 16 or over to hold the account
  2. The account can have a maximum of two joint account holders
  3. The minimum balance on the account is £1
  4. The maximum balance on the account is £5 million
  5. Nationwide reserves the right to limit the number of Instant Access Saver accounts you can have


  1. Interest is calculated daily and paid annually on 31 December and on closure
  2. Interest can be paid either into the account, a Nationwide current or savings account (excluding Regular Savings or Flexclusive Regular Saver), or a current account with another bank or building society
  3. We will calculate interest on each whole pound in the account
  4. The interest rate payable on the account is variable and based on the balance in your account

Operating the account

  1. You can withdraw any available funds in the account without notice or loss of interest
  2. Any card issued for use with this account can only be used in a Nationwide cash machine


  1. A statement will be sent to you annually. For card accounts, statements will be sent to you quarterly if you make a transaction

Ready to apply for an Instant Access Saver account?

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Financial Services Compensation Scheme

Protecting your money

Find out more - Financial Services Compensation Scheme

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Limited Access Saver

If you don't need unlimited access to your savings consider our Limited Access Saver account, you can make up to 5 withdrawals a year without loss of interest

Current account

Don't have a Nationwide current account? Our FlexAccount could give you access to a range of exclusive offers and discounts - all with no monthly fee.

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.

Managing your account