e-Savings Plus - 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.
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SUMMARY BOX | |||||
|---|---|---|---|---|---|
| Account name | e-Savings Plus (linked to FlexAccount) | ||||
| Variable | |||||
| e-Savings Plus - interest rates payable where 3 or fewer withdrawals are made each year | |||||
| Balance | AER* % | AER** % | Gross p.a. % | Net p.a. % | |
| £1 - £3,000,000 | 2.00 | n/a | 2.00 | 1.60 | |
| e-Savings Plus - interest rates payable where 4 or more withdrawals are made each year | |||||
| Balance | AER* % | AER** % | Gross p.a. % | Net p.a. % | |
| £1 - £3,000,000 | 0.10 | n/a | 0.10 | 0.08 | |
| Effective from 01 April 2009 | |||||
| We guarantee that the interest rate (AER) for customers making 3 or fewer withdrawals p.a. will pay at least 0.25% more than the Bank of England Base Rate until 1 Jan 2011. Changes to e-Savings Plus account rates will be made within one month of a Bank of England Base Rate announcement. | |||||
| Tax Status | e-Savings Plus account interest is paid net of basic rate tax, depending on your status. | ||||
| Conditions for bonus payment | n/a | ||||
| Withdrawal arrangements |
Up to 3 free instant access withdrawals each year. Lower rates apply to customers making 4 or more withdrawals or closing the account. The lower interest rate will apply for the full 12 months following opening or anniversary of opening. Funds can only be transferred online from e-Savings Plus to a FlexAccount on the Internet Bank. | ||||
| Access | Internet | ||||
| 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 Plus is as simple as selecting the link within the Internet Bank and saying how much you'd like to transfer in. The 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. You may only open 1 e-Savings Plus account. |
| Maximum number of savings account holders | 2 |
| Minimum age | 16 |
| Running the account | |
| Paying in |
Funds are transferred online into the e-Savings Plus from your FlexAccount current account using the Internet Bank. It is not possible to pay directly into e-Savings Plus, all payments must come via the FlexAccount. |
| Keeping track of my money |
Full statement available on the Internet Bank. No paper statement is provided as this is an online account. |
| Interest | e-Savings Plus interest rates are calculated daily and paid annually on the anniversary of account opening. Interest rates are variable. |
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 Plus 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.