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Loyalty Fixed Rate ISA

Our Loyalty Fixed Rate ISA is only available if you've been a continuous member* of Nationwide for at least a year. You put in a lump sum and get our highest tax-free fixed interest rate for the chosen term, with the confidence that it won't change during that time.

A cash ISA allows UK residents aged 16 or over to save up to their annual ISA allowance tax-free with one provider each tax year. The allowance is £20,000 for 2017/2018. With other savings accounts, you may have to pay tax on the interest you earn, depending on your Personal Savings Allowance. The interest on a cash ISA is tax-free, so all the interest you earn, you keep.

Help with your existing ISA

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

Go to Savings & ISA support

Summary Box

Account name

Loyalty Fixed Rate ISA

What is the interest rate?

The interest rate on this account is dependent on your chosen length of term and whether you choose to have interest paid annually or monthly. Interest is calculated daily.

Term Monthly interest (fixed)
AER/tax-free
Annual interest (fixed)
AER/tax-free
Loyalty 2 Year Fixed Rate ISA 1.10% 1.09% 1.10% 1.10%
Loyalty 5 Year Fixed Rate ISA 1.65% 1.64% 1.65% 1.65%

If you choose an Annual interest account:
Interest is paid annually on the anniversary of the account opening and on maturity. Interest can be added to your Loyalty Fixed Rate ISA, or paid directly to 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.

If you choose a Monthly interest account:
Interest is paid monthly directly to 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. When the account matures, the final interest payment will be added to the Loyalty Fixed Rate ISA.

Can Nationwide change the interest rate?

No, the interest rate on this account is fixed for the term of the Loyalty Fixed Rate ISA and can’t be changed.

What would the estimated balance be at the end of the fixed term based on a £1,000 deposit?

Annual

Term Interest rate (fixed)
AER/tax-free
Balance at end of term
Loyalty 2 Year Fixed Rate ISA 1.10% 1.10% £1,022.12
Loyalty 5 Year Fixed Rate ISA 1.65% 1.65% £1,085.27

The table above shows the balance on a deposit of £1,000 at the end of the fixed term with the fixed rate shown where interest is paid annually into the account.

Monthly

Term Interest rate (fixed)
AER/tax-free
Balance at end of term
Loyalty 2 Year Fixed Rate ISA 1.10% 1.09% £1,000.91
Loyalty 5 Year Fixed Rate ISA 1.65% 1.64% £1,001.37

The table above shows the balance on a deposit of £1,000 for the fixed term with the fixed rate shown where interest is paid monthly into another account. Only the final months interest payment is shown as being added to the account, as per the account terms and conditions.

The estimated balances are for illustration only and assume that:

  • The Loyalty Fixed Rate ISA isn’t closed before the end of the fixed term.
  • Individual circumstances don't change.

How do I open and manage my account?

To open this account:

  • You need to be aged 16 years old or over.
  • You can have a minimum of one account holder.
  • You can open this account with a minimum of £1 up to a maximum of the annual ISA allowance (currently £20,000 for tax year 2017-2018). 
  • You’ll need to have been a continuous member* of Nationwide for a minimum of 1 year.
  • You can open more than one Loyalty Fixed Rate ISA.

*What is a member?

A member means a customer with a Nationwide current account, savings account or mortgage. The following product holdings don’t carry membership rights: deposit accounts, personal loans, credit cards, insurance products, products offered by subsidiaries of the Society such as The Mortgage Works (UK) plc.

If you were a member of another building society that has merged with Nationwide, this’ll count towards your length of membership with Nationwide. For all ex-Dunfermline customers, your membership date starts on 30 March 2009 as this was an acquisition rather than a merger.

Please note: This is a lump sum account so you can’t add more money to the account once it has been opened.

You can open this account with one lump sum:

You can manage this account:

  • Via the Internet Bank or Banking app (if you’re registered for Internet banking)
  • In branch.

At maturity, 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. Simply go to nationwide.co.uk, use our Banking app or visit one of our branches.

Can I withdraw money?

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 Loyalty Fixed Rate ISA. This’ll be equivalent to the number of days interest accrued at the current rate of your Loyalty Fixed Rate ISA as detailed in the table below.

Term Early Access Charge
Loyalty 2 Year Fixed Rate ISA 180 days interest
Loyalty 5 Year Fixed Rate ISA 365 days interest

If there's 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 Loyalty Fixed Rate ISA will mature into a Fixed Term ISA Maturity account, giving instant access to your money. Part withdrawals of a Fixed Term ISA 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 in the account transferred to another account. We’ll contact you before your ISA 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).

Additional information

We’ll send you a certificate once your account is opened outlining your account balance and interest rate.

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

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 7 June 2017.

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.