In addition to the Savings General terms and conditions and the Cash ISA terms and conditions, the following terms and conditions apply to the Loyalty Fixed Rate ISA only. If there’s a conflict between the Savings General terms and conditions, the Cash ISA terms and conditions, and these Loyalty Fixed Rate ISA terms and conditions, these Loyalty Fixed Rate ISA conditions will take priority.

Account holding and ownership

  1. You can open this account if you’ve been a continuous member of Nationwide for at least 1 year before opening this account.
  2. You must open your account with at least £1.
  3. The account is for a fixed term, starting on the date you opened the account and ending on the relevant anniversary of the account opening, which you’ll find set out in the information you were given when you opened the account. For example, a 2 Year Loyalty Fixed Rate ISA will end on the second anniversary of account opening.
  4. We may from time to time issue other fixed rate or fixed term accounts at different interest rates or terms without offering you the opportunity to transfer your balance to the new account free of these conditions.
  5. You can’t make additional payments into the account once it’s been opened.

Interest

  1. Interest is calculated daily on the balance of your account. You can choose for your interest to be paid annually or monthly. It’ll also be paid on closure of the account and on maturity.
  2. If you choose for interest to be paid annually, you’ll receive your interest payment on the anniversary of your account opening. You can choose to have this interest paid into the account, into another Nationwide savings account (subject to the terms and conditions of the account that’ll be receiving the interest payment), or into a current account you’ve got with us or any other building society or bank.
  3. If you choose for interest to be paid monthly, you can only choose for any interest to be paid into another Nationwide savings account (subject to the terms and conditions of the account that’ll be receiving the interest payment), or into a current account you’ve got with us or any other building society or bank. Interest will be paid on the last day of each calendar month.
  4. Interest paid on maturity can only be paid into your Loyalty Fixed Rate ISA if you’ve chosen to receive interest monthly.

Taking money out

  1. You can’t make partial withdrawals of the money in your account before the end of the term.
  2. At the end of the term, the account will mature and the balance in the account, along with interest earned will automatically transfer into another Nationwide cash ISA. We’ll contact you with more information before your account matures. Alternatively, you may choose to transfer your balance to another Nationwide account, in your name.
  3. If you ask us to close your account before it matures, you’ll need to pay an early access charge, as shown in the table below. The charge will be deducted from interest you’ve earned before we return your funds to you. If you’ve not earned enough interest, the charge will be taken from the balance in your account and we’ll return the remaining funds to you.
Term 2 years 3 years 4 years 5 years
Loss of interest 180 days 270 days 320 days 365 days
  1. This early access charge does not apply:
    (i) On closure, or transfer to another ISA, during the first 14 days after the account opening. This can only be carried out by us following receipt of a Cancellation Form which can be obtained from, and must be returned to any Nationwide branch.
    (ii) On closure due to the death of the account holder.
  2. If you want to close your account before your account matures you must withdraw the whole balance in your account in branch. You may only make the withdrawal by cheque (subject to any limits on such withdrawals), or by transferring your balance to another Nationwide savings account (subject to the terms and conditions of the account that’ll be receiving the balance), or current account, in your name. You’ll usually receive the cheque immediately but for larger amounts separate arrangements may need to be made with the branch. You can’t make withdrawals by cash.