e-Savings - savings interest rates and account summary

You can find a summary of our savings interest rates and internet savings account details in the table 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
Account name	e-Savings (linked to FlexAccount)
Interest rates (AERs)	Variable
	Balance	AER* %	AER** %	Gross p.a. %	Net p.a. %
	£1 - £3,000,000	0.45	n/a	0.45	0.36
	Effective from 01 April 2009
Tax Status	e-Savings account interest is paid net of basic rate tax, depending on your status.
Conditions for bonus payment	n/a
Withdrawal arrangements	Instant access
Access	Internet or phone via your FlexAccount.

Savings account opening
Minimum & maximum balances	£1 minimum £3,000,000 maximum
How to open	You first need a Nationwide FlexAccount with Internet Banking. Opening e-Savings is as simple as selecting the link within the Internet Bank and saying how much you'd like to transfer in. The savings account will take up to 5 days to show on the Internet Bank, although your savings will start to earn interest from the day of deposit.
Maximum number of savings account holders	2, the e-Savings will be opened in the same name(s) as the linked FlexAccount.
Minimum age	16

Running the account
Paying in	Funds are transferred online into the e-Savings from your FlexAccount current account using the Internet Bank or Telephone Self Service. It is not possible to pay directly into e-Savings, all payments must come via the FlexAccount.
Taking money out	Savings account funds can only be transferred online from e-Savings to a FlexAccount on the Internet Bank or via Telephone Self Service.
Keeping track of my money	Full statement available on the Internet Bank. Mini-statements are available through Telephone Self Service. No paper statement is provided as this is an online account.
Interest	e-Savings interest rates are calculated daily and paid annually on the 31 March. Interest rates are variable.

* 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 savings interest rates or our e-Savings account, please visit our managing your account section, or contact us today. For savings interest rates on other accounts, visit our main savings rates page.

Terms & Conditions

Legal information