New rates on Nationwide's on-sale savings accounts

22 May 2020

In response to continuing changes within the savings market, Nationwide Building Society is today launching new issues of its on-sale Triple Access Online savings accounts as well as its one and two-year fixed rate products. The Society is also withdrawing its three-year fixed rate products from sale.

They will apply to anyone opening these accounts from today (22 May 2020). The new rates of interest on the following accounts are as follows:

  • 1 Year Triple Access Online ISA / Saver – 0.25% tax free / AER 1 2
  • One-year Fixed Rate Bond, e-Bond and Fixed Rate ISA – 0.40%
  • Two-year Fixed Rate Bond, e-Bond and Fixed Rate ISA – 0.50%

The Triple Access accounts can be opened and managed online via the website, Internet Bank and Mobile Banking App. Savers can invest up to £5 million in the account, which has a minimum operating balance of £1.

The 1 Year Triple Access Online ISA accepts transfers in, so savers can transfer existing ISA balances from other providers.

Previous versions of all the above mentioned accounts were withdrawn from sale at close of business on 21 May 2020.

There are no current changes to Nationwide’s Start to Save account, which continues to pay 1.00% AER/gross p.a. (variable) and offers savers the chance to win £100 through regular prize draws as long as members save between £50 and £100 for three months.

Notes to Editors

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Gross p.a. is the interest rate without tax deducted. Tax-free is the contractual rate of interest payable where interest is exempt from income tax.

1 After 12 months, the variable rate account reverts to a variable rate that will be confirmed ahead of maturity.

2 The easy access account allows three withdrawals in each 12-month period following account opening. Subsequent withdrawals will lower the interest rate to 0.01% for the remainder of that period.

Early closure on fixed rate accounts

Term of bond, e-bond or ISA Two years One year or less
 Loss of interest  180 days  90 days

About Nationwide

Nationwide is the world's largest building society as well as one of the largest savings providers and a top-three provider of mortgages in the UK. It is also a major provider of current accounts, credit cards, ISAs and personal loans. Nationwide has around 15 million customers.

Customers can manage their finances in a branch, via the mobile app, on the telephone, internet and post. The Society has around 18,000 employees. Nationwide's head office is in Swindon with administration centres based in Northampton, Bournemouth and Dunfermline. The Society also has a number of call centres across the UK.

Please note: If you are a customer looking for information on our products and services, please visit the main website.