Fixed Rate Bonds

Managing your account

If you have any questions about managing your fixed rate bond, check the frequently asked questions below to see if we can help (just click the question and the answer will appear underneath):

Can I pay additional deposits into my savings bonds after the opening deposit?

No it is not possible to pay additional deposits into the bond after the initial deposit has been paid.

Can I withdraw part of my savings bond?

No, part withdrawals are not possible during the term of the bond. Bonds can be closed prior to maturity, but an early access charge will apply.

When does my interest get paid?

Interest is calculated daily and paid annually or monthly and on maturity. Interest can be added to your bond, paid into your current account or another Nationwide savings account (excluding Regular Savings). It is not possible to have monthly interest credited to the bond.

How do I keep track of my savings bond?

We'll send you a savings bond certificate within a few days of opening your account. In April/May we'll send you a full statement to help you keep track of your investment. Alternatively you can view your account online, at your local branch or call us on 08457 30 20 10 for more information.

What happens when my savings bond matures?

We will write to you detailing your maturity options 30 days before your bond matures. You can:

• Reinvest your maturing savings into another bond - If you want to reinvest all of your maturing savings into another bond then you can do this by:
  • completing the Bond Maturity Instructions Form and posting this to us.
• Reinvest part of your maturing savings or add more savings - If you want to change the amount of your investment by adding some more savings or withdrawing some of your savings then please complete the Bond Maturity Instructions Form and return this to us.
• Reinvest your matured savings into an e-Bond - If you are registered for Internet Banking you can reinvest your money into an e-Bond as soon as your bond matures into your CapitalBuilder account. Just sign on to the Internet Bank and select your CapitalBuilder account, which will be highlighted in yellow on your accounts list. Then select 'Reinvestment options' to reinvest in an e-Bond. You can also add more funds as part of this process.
• Reinvest your maturing savings into a Protected Equity Bond - If you want to reinvest your maturing savings into a Protected Equity Bond then please visit your local branch.
• Once your savings bond matures, if we have had no instruction from you, your funds will automatically transfer into a CapitalBuilder account from which you will have instant access to remove your funds.

Can I have more than one savings bond?

Yes, you can hold multiple savings bonds as long as the total balance does not exceed £2 million.

How do I close my savings bonds?

Bonds can be closed at any branch. Identification in the form of a passport or drivers licence (paper version or card with green paper counterpart) will be required along with the bond certificate.

Any lost or stolen certificates must be reported before the account can be closed. Please contact your nearest branch or call us on 08457 30 20 10 to report a lost or stolen certificate.

What happens if I close my savings bonds prior to maturity?

The account can be closed prior to maturity, subject to the following early access charge (these charges will not apply on closure due to the death of the account holder).

Fees and charges

Term	1 year or less	2 years	3 years	4 years	5 years
Early access charge	90 days	180 days	270 days	320 days	365 days

If the term includes part of a year your early access charge will be calculated based on the next whole year e.g. 18 month term = the 2 year early access charge.

The amount of the early access charge will depend on the term of the bond and will be equivalent to the number of days' interest as detailed in the table above. If there is insufficient earned interest, then the amount of the early access charge will be taken from the funds in the account. The funds in the account, together with any interest earned and less the early access charge, will be paid to you.

I'm entitled to receive gross interest – but how do I arrange this?

You need to complete and return an R85 form.

How do I request a Section 975 Certificate of Interest Paid?

View details on how to obtain a Section 975 Certificate of Interest Paid.

How do I change my name or address?

There are forms available online to change your name or address. These can be found within "Other Services" on the Internet Bank. Alternatively you can pop into your local branch.

Can I open a savings bond for a child?

Yes. If the child is aged seven and over, any savings bonds must be opened in their own name. For children aged under seven, the bond should be held in trust.