InvestDirect - Savings interest rates and account details

Summary Box

Key Product Information for our savings accounts

Account name

InvestDirect

Interest rates (AERs) - Variable

Balance	*AER %**	AER** %	Gross p.a. %	Net p.a. %
£1 - £2,000,000	0.20	n/a	0.20	0.16

Effective from: 01 March 2009

Tax status

Interest is paid net of basic rate tax, depending on your status.

Conditions for bonus payment

n/a

Withdrawal arrangements

Instant access

Access

Cash machine, post, phone and Internet

Minimum & maximum balances	Minimum opening balance £100 (minimum operating balance £1) Maximum: £2,000,000
How to open	You can apply online or in any Nationwide branch
Maximum number of savings account holders	2
Minimum age	18

Paying in	You can: use the first class pre-paid envelopes and paying in slips provided to pay in cheques use your card to pay in at any Nationwide cash machine transfer money in online or via Telephone Banking set up a regular standing order from your current account
Taking money out	You can: withdraw from £250 up to £500,000 by post in the form of a cheque - simply send us a completed withdrawal slip withdraw up to £300 a day with your card at any Nationwide or LINK cash machine transfer money to another Nationwide account, using the Internet Bank or Telephone Banking
Keeping track of my money	A full statement is available on the Internet Bank. A paper statement is issued annually in October however a quarterly statement will also be issued if the cash card has been used. Mini statements are available at any Nationwide cash machine and through Telephone Banking.
Interest	Interest is paid annually on 30 September. Choose whether you want it paid into your InvestDirect account, another Nationwide savings account (apart from Regular Savings) or your current account.

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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.