Effective from: 01 April 2009
Interest is paid net of basic rate tax, depending on your status.
You can open a Smart account at your local branch or online if you are 11 or over. Find out more.
1, if the account is opened by the child (aged 7 and over).
2, if the account is opened by adults on behalf of the child.
From 0 to 16 years the account can be opened by an adult and managed on behalf of the child.
From age 7 the child can operate the account themselves. If the child is 11 or over they can choose to have a cash card and manage their savings online.
Your passbook provides the record of transactions. A statement will be sent to you annually. Full statements are 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. Mini-statements are available at Nationwide ATMs, through Telephone Banking and a full statement is available on the Internet Bank.
Interest is added to your Smart account twice a year on 30 June and 31 December.
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 Revenue & Customs practice which can change.
FSCS - Protecting your money. Find out more
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
Smart terms & conditions