Monthly Income 60+

Savings interest rates and account details

You can find a summary of our savings interest rates and Monthly Income 60+ 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.

Legal information

Summary Box

Key Product Information for our savings accounts

Account name

Monthly Income 60+

Interest rates (AERs) - Variable

Balance	*AER %**	AER** %	Gross p.a. %	Net p.a. %
£1+	0.55	n/a	0.55	0.44

Effective from: 01 April 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

Branch

Opening your account

Minimum & maximum balances	£1 minimum operating balance (£100 minimum opening balance) £2,000,000 maximum operating balance
How to open	Apply at your branch, to find your nearest branch please follow this link to our branch finder
Maximum number of savings account holders	2
Minimum age	60

Managing your account

Paying in	You can: use your passbook to pay in over the counter at any of our branches set up a regular standing order from your current account transfer money in online or via Telephone Banking
Taking money out	You can withdraw up to £500 in cash at any Nationwide branch (up to £500,000 in the form of a cheque)
Keeping track of my money	Full statement available on the Internet Bank. Paper statements can be issued annually in April on request. Passbook provides a record of transactions.
Interest	Interest is paid directly into your Nominated account on the last day of each calendar month

* 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 Monthly Income 60+ 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.