Managing my Save to Buy ISA Issue 3

On 27 January 2016 balances in Save to Buy ISA Issues 1 and 2 were moved to Save to Buy ISA Issue 3. The product:

  • Has a maximum balance of £25,000*
  • Gives immediate access to your savings. You can make one withdrawal per account year** without your interest rate changing. You can make more withdrawals after this, but your rate will reduce from the date of the second withdrawal until the end of that account year**. Look up the current rate for this product.

* Please note, the interest rate on Issue 3 is variable. It's not a guaranteed rate or linked to the Bank of England base rate.

** One withdrawal per ‘account year’ means the 12 month period from the date the account was opened and each period of 12 months thereafter.

You can apply for a Save to Buy mortgage by visiting one of our mortgage experts in branch, or you can call us on 0800 30 20 10, Monday to Friday 8am - 8pm, Saturday 9am - 5pm.

You can:

  • Transfer in by standing order from another bank or building society
  • Transfer from another Nationwide account on the Internet Bank
  • Pay in over the counter at your local branch. Remember to take your passbook with you when you go to the branch so that it can be updated
  • Pay into the account as often as you like, subject to your ISA allowance. However, there is a maximum balance of £25,000.

You can:

  • Withdraw up to £500 per day in cash, or larger amounts by cheque at any Nationwide branch
  • Transfer to any other Nationwide account at any branch, subject to the terms and conditions
  • Transfer money via the Internet Bank to a Nationwide current account or an instant access savings account.

Please note that the lower interest rate will be paid to customers who make more than one withdrawal, per account year. Remember, you can replace any money withdrawn in the same tax year (subject to product terms and conditions) without affecting your annual ISA allowance.

The easiest way to check the current interest rate on your Save to Buy ISA Issue 3 is via the Internet Bank. Alternatively, you can ask us in branch, call us on 0800 30 20 11 or look up your rate here.

Interest is paid annually, either into your Save to Buy ISA Issue 3 or another Nationwide savings account (subject to the terms and conditions of the receiving account). You can then withdraw the interest amount but if you leave it in your cash ISA, it will continue to earn you tax-free interest which won't count towards your annual ISA allowance in following years.

To check your balance, simply call us on 0800 30 20 11, visit us in branch or you can view your balance online if you are registered for the Internet Bank.

If your balance exceeded £25,000 before the migration to the new issue 3 product in January 2016, your entire balance will have been migrated. You will no longer be able to make deposits into your Save to Buy ISA Issue 3, unless you take the balance below the account limit. You can make one withdrawal per account year without your interest rate changing. Further withdrawals are allowed, but your rate will reduce from the date of the second withdrawal until the end of that account year.

I'm ready to buy my home

When you're ready to apply for a Save to Buy mortgage, simply visit your local Nationwide branch or call us on 0800 30 20 10. One of our Mortgage Consultants will take you through the application process and will recommend the best Save to Buy mortgage for your situation.

You can qualify for a cashback reward once you have met the Save to Buy criteria, and have completed a Save to Buy mortgage application.

You will receive your cashback one month after completing your Save to Buy mortgage with Nationwide, either via cheque or via bank transfer to the current account from which the mortgage payment is taken.

No, you can select a mortgage from the standard mortgage range, however some features may not be available, such as cashback. You may be eligible for other offers at that time.

More First Time Buyer options

Help to Buy: ISA is a tax-free savings account specially designed for first time buyers who are 16 or over and UK residents looking to save for a deposit on their first home. Provided you qualify, the Government will add a Bonus of 25% of your balance when you close the account, which is claimed by your conveyancer and used towards the purchase of your first property.

Our Help to Buy: ISA provides the same access to our Save to Buy mortgage range. If you open a Help to Buy: ISA, the combined balances held in both your Save to Buy ISA Issue 3 and the Help to Buy: ISA will count towards the current cash back offer on Save to Buy mortgages. So, if you’re a first time buyer you could start saving in a Help to Buy: ISA and benefit from both the Government Bonus and our current Save to Buy cashback.

You can hold both a Save to Buy ISA Issue 3 and a Help to Buy: ISA, subject to your ISA allowance and provided that you meet the eligibility criteria for a Help to Buy: ISA. Nationwide allows its customers to save money in more than one type of cash ISA product within the Nationwide ISA portfolio, which can be combined under a single Nationwide ISA wrapper, up to the current annual 2016/17 ISA limit of £15,240. This means that Nationwide savers can keep investing in their existing Nationwide Save to Buy ISA Issue 3 product as well as contributing up to £200 a month to the Nationwide Help to Buy: ISA, subject to annual ISA limits.

If you’re 16 or over you can open an account (provided you meet the eligibility criteria), with an initial deposit of up to £1,200, and then make further contributions of up to £200 per calendar month. (You can contribute to another Nationwide cash ISA product at the same time, as long as you don't exceed your total ISA tax-free savings allowance each year).  

You can open in any branch, using the online application form (select apply button), via the Internet Bank or the Mobile Banking App (if you have registered for Internet Banking). If you open your account via the Internet Bank or Mobile Banking App, you will need to make a minimum initial deposit of £1. However, please note that your initial deposit must be completed within the first calendar month of opening.

Yes. Save to Buy ISA Issue 3 offers immediate access to your savings and provides one withdrawal per account year* without loss of interest and the flexibility to make more (subject to a lower interest rate). You could use this withdrawal to move money into a Help to Buy: ISA, subject to the Help to Buy: ISA deposit limits and annual ISA allowance, which for the 2016/17 tax year is £15,240. Just pop into branch and fill out a consolidation form and we will do the rest. If you’re a first time buyer you could start saving in a Help to Buy: ISA and benefit from both the Government Bonus and our current Save to Buy cashback.  

*One withdrawal per ‘account year’ means the 12 month period from the date the account was opened and each period of 12 months thereafter.

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