e-Savings Plus - Savings interest rates and account details

Summary Box

Key Product Information for our savings accounts

Account name

e-Savings Plus (linked to FlexAccount)

Interest rates (AERs) - Variable

e-Savings Plus - interest rates payable where 5 or fewer withdrawals, including closure, are made each year
Balance	*AER %**	AER** %	Gross p.a. %	Net p.a. %
£1 - £5,000,000	2.00	n/a	2.00	1.60
e-Savings Plus - interest rates payable where 6 or more withdrawals, including closure, are made each year
Balance	*AER %**	AER** %	Gross p.a. %	Net p.a. %
£1 - £5,000,000	0.10	n/a	0.10	0.08

Effective from: 01 April 2009

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 5 free withdrawals, including closure, each year. Lower rates apply to customers making 6 or more withdrawals or subsequently 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

Opening your account

Minimum & maximum balances	£1 minimum £5,000,000 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

Managing your 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.

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.

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find out more about managing your 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.

Useful information

e-Savings Plus terms & conditions