Regular Savings - Savings interest rates and account
details
Summary Box
| Key Product Information for our savings accounts |
| Regular Savings |
| Interest rates (AERs) - Variable |
Rates below are for the monthly increase in balance
|
| Balance |
AER* % |
AER** % |
Gross p.a. % |
Net p.a. % |
|
£1
- £99 |
0.10 |
n/a |
0.10 |
0.08 |
|
£100
- £199 |
1.35 |
n/a |
1.35 |
1.08 |
|
£200
- £499 |
1.85 |
n/a |
1.85 |
1.48 |
|
£500
- £1,000 |
2.50 |
n/a |
2.50 |
2.00 |
Effective from: 01 April 2009 |
The interest rate depends on the increase in the account balance, not how much you have in the account.
|
|
| Interest is paid net of basic rate tax, depending on your status. |
| n/a |
|
Instant access |
| Cash machine, branch, phone and Internet |
Opening your account
Minimum: £1
Maximum: No maximum balance, maximum increase per calendar month is £1,000. |
|
You can apply online or in any |
| 2 |
| 11 |
Managing your account
You can increase your balance by up to £1,000 per month by:
- setting up a regular standing order from your current account
- using your cash card to pay money in at any Nationwide cash machine
- transferring money in online or via Telephone Banking
|
Withdrawals can be made:
- by cash up to £300 per day at any Nationwide or LINK cash machine
- by cash (up to £500 per day) or cheque (up to £500,000 per day) at any
- transfer to another Nationwide account, using the Internet Bank or Telephone Banking
|
|
A full statement is available online. Mini statements are available online, at cash machines and via Telephone Banking. Paper statements are issued annually in November |
|
We work out the interest you earn month by month, add it all up and pay it into your account once a year on 31 October.
The interest rate depends on the increase in the account balance, not how much you have in the account. |
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.