PortfolioInvestor
Savings interest rates and account details
You can find a summary of our savings interest rates and PortfolioInvestor account details in the tables below. If you have any further questions, please take a look at our managing your account section for more help.
Summary Box
| Key Product Information for our savings accounts |
| PortfolioInvestor |
| Interest rates (AERs) - Variable |
| Balance |
AER* % |
AER** % |
Gross p.a. % |
Net p.a. % |
|
£1
- £5,000,000 |
0.01 |
n/a |
0.01 |
0.01 |
Effective from: 01 March 2009 |
|
If your pension scheme has received the appropriate approval from HM Revenue and Customs, your interest will be paid gross. Otherwise your interest will be net of tax. |
| n/a |
| Instant access via cheque. No cash withdrawals are allowed on this account. |
| Branch, phone and post. |
Opening your account
£1 minimum
£5,000,000 maximum |
Call us on 01604 796354 to enquire about opening an account. For more information, click here |
| n/a |
| 18 |
Managing your account
The minimum account balance is £1, whilst the maximum you can save is £5 million. If you need to invest a larger amount please speak to one of our advisers by calling 01604 796354.
To make a deposit into your account you can either pay a cheque in at any Nationwide branch or via post. Alternatively you can make electronic transfers into your account.
Cheques paid in will earn interest at the start of the 2nd day following the day of deposit. Electronic transfers start earning interest the first full day after we’ve received them. Please note, cash deposits are not allowed. |
Interest is calculated daily and will be paid into the account on the first day of March, June, September and December. When your balance reaches a higher interest tier you will receive that rate of interest on your entire balance. Please note that the interest rate is variable. |
| Item |
Fee |
| Unpaid items - due to insufficient cleared funds |
£30 per item |
| Bounced cheque - a cheque returned to us by the drawers' building society or bank |
£4 |
| CHAPS - electronic funds transfer |
£25 |
| Overseas electronic payments - electronic funds transfer |
£25 |
| Duplicate statement |
£5 |
| Copy of a cheque |
£5 |
| Stopped cheques (This charge does not apply to cheques which are stopped following theft or loss, provided we receive written notification from you) |
£6 |
| Foreign cheques will be accepted subject to variable charge based upon the currency and value of the cheque |
Ask for details |
|
* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Gross - The gross rate of interest is the interest rate payable before any income tax is deducted (if you do pay tax).
Net - The net rate of interest is the interest rate payable after any income tax is deducted (if you do pay tax).
** Including conditional bonus.
If you have any further questions about PortfolioInvestor, please visit our managing your account section, or contact us today. For savings interest rates on other accounts, visit our main savings rates page.
The following are not eligible to claim compensation under the UK Financial Services Compensation Scheme for deposits:
Large companies*, large mutual associations**, credit institutions, overseas financial services institutions, collective investment schemes operators or trustees, pension and retirement funds and their trustees, supranational institutions, governments, and central administrative authorities, provincial, regional, local and municipal authorities, firms within the Nationwide Building Society Group, persons holding 5% or more of the capital of Nationwide Building Society or of any firm in the Group, the auditors of Nationwide Building Society and its Group, persons considered responsible for the default, persons whose claim arises from transactions in connection with which they have been convicted of an offence of money laundering.
*Large companies are defined as firms with at least two of the three criteria: -turnover in excess of £6.5 million, balance sheet total in excess of £3.26 million; and more than 50 employees **Large mutual associations hold more than £1.4 million in net assets.