90 Day Smart Saver - Savings interest rates & account details

Summary Box

Key Product Information for our savings accounts

Account name

90 Day Smart Saver

Interest rates (AERs) - Variable

Balance	*AER %**	AER** %	Gross p.a. %	Net p.a. %
£1+	2.10	n/a	2.10	1.68

Effective from: 24 October 2011

The annual interest rate (AER) is guaranteed to pay 1.60% above the Bank of England Base Rate until 1 January 2015 and will track changes in the Base Rate. Any changes will be made within one month of a Bank of England announcement.

Withdrawals without notice are permitted with 90 days' loss of interest on the amount withdrawn.

Tax status

Interest is paid net of net basic rate tax, unless the recipient of the tax (either you or the child you are saving for) is entitled to Gross interest.

Conditions for bonus payment

n/a

Withdrawal arrangements

Withdrawals available subject to 90 days' notice or 90 days' loss of interest on the amount withdrawn. If there is insufficient earned interest, then the amount of the early access charge will be taken from the funds in the account.

Access

Branch

Opening your savings account

Minimum and maximum balances	Minimum opening balance £100 (minimum operating balance £1) Maximum balance £5,000,000
How to open	You can apply in any Nationwide branch or order a Smart application pack online and we'll post it to you.
Maximum number of savings account holders	2 An adult can only open one 90 Day Smart Saver account per child.
Minimum age	16 (account may be opened by an adult aged 18 or over on behalf of a child under the age of 18 years)

Managing your account

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 card 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 electronic transfer
Keeping track of my 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 90 Day Smart Saver, your current account, or another Nationwide savings account (excluding Regular Savings).

Find out how to apply

find out more about managing your account

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).

The tax information provided is based on our current understanding of current law and HM Revenues & Customs practice which can change.

FSCS - Protecting your money. Find out more

FSCS - Protecting your money

Your eligible deposits with Nationwide Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme. This limit is applied to the total of any deposits you have with the following: Nationwide Building Society, Cheshire Building Society, Derbyshire Building Society, Dunfermline Building Society and Nationwide UK (Ireland). Any total deposits you hold above the £85,000 limit between these brands are not covered.

Please click here for further information or visit www.fscs.org.uk

Useful information

90 Day Smart Saver terms & conditions