Why choose Flex Online Saver?

Interest rate

From 0.30% to 0.50% AER/gross p.a. (variable)

Access to your money

Make withdrawals at any time

Manage your money

Online

Designed for:

Not designed for:

Couple by window

Not the right account for you?

Answer a few simple questions and we'll show you what's available.

Find the right account for you

Need Help?

Our savings help and support centre is packed with information about managing your account.

Visit our savings help and support centre

Account details

Explore the key features and benefits of this account in our Summary Box before moving on to start your application.

Summary Box

Account name

Flex Online Saver 2

What is the interest rate?

Account Balance Interest rate AER/gross p.a. (variable)
£1 - £9,999 0.30%
£10,000 - £49,999 0.40%
£50,000+ 0.50%

The interest rate is dependent on the balance in your account.

Interest is calculated daily and is paid annually on the anniversary of account opening and on the date the account is closed. Interest is paid to the account, except for the interest paid on closure which can be paid to the account which has been nominated for making withdrawals, or to another current account or savings account that you may hold with Nationwide (as long as it’s possible to make payments in to the account).

Can Nationwide change the interest rate?

Yes, the interest rate is variable.

Please see the ‘Variation of your interest rate and other account terms’ and 'How will we tell you about interest rate changes?' sections of the Savings General Terms and Conditions which set out when we can vary the interest rate and how and when we’ll notify you if this happens.

What would the estimated balance be after 12 months based on a £1000 deposit?

Initial deposit Interest rate AER/gross p.a. (variable) Balance after 12 months
£1,000 0.30% £1,003.00
£10,000 0.40% £10,040.00
£50,000 0.50% £50,250.00

The estimated balance is for illustration only and assumes that:

  • no further deposits or withdrawals are made
  • there is no change to the interest rate.

How do I open and manage my account?

To open this account, you must:

  • be a UK resident aged 16 or over

  • have your main current account with us. This means you must either:

    1. hold a FlexOne, FlexStudent, FlexGraduate, FlexDirect or FlexPlus account, OR
    2. hold a FlexAccount and:
      • have been paying in £750+ a month for the last 3 months (excluding transfers from any Nationwide account held by you or anyone else)
        OR
      • completed an account switch to us (from a non-Nationwide account) using our Current Account Switch Team in the last 4 months.

Please note: 

There can be a maximum of two joint account holders. Only one account holder needs to be a member with a main current account.

You must have a valid email address to open the account


Flex Online Saver is designed to be opened and managed via smartphone or tablet.


You can open this account:

  • via our Internet Bank or Banking app – if you're registered

  • in branch, if you need some assistance.

Once the account is open you have 28 calendar days to make a deposit (up to a maximum of £5,000,000) otherwise the account will close.


You can manage your account:

  • via our Internet Bank or Banking app.

It’s easy to move your savings between your existing Nationwide savings account or to open a new savings account with us. Simply go to nationwide.co.uk, use our Internet Bank or Banking app or visit us in one of our branches.

Can I withdraw money?

Yes, this is an instant access savings account so you can get access to your money whenever you need it.

Subject to the balance in your account you can:

  • transfer money to another Nationwide current account or savings account (as long as it is possible to make payments into the account), using our Internet Bank or Banking app - if you’re registered

  • transfer money to your nominated account. This can be a Nationwide current or savings account, or a current account held with another UK provider. It must be held in your name, either as a sole or joint account holder, and be registered at the same address. This account must be able to receive payments.*

You cannot deposit or withdraw cash or cheques from your savings account.

*Please note: Transfers to a nominated account held with another UK provider will be made by Faster Payment.

Additional information

When applying online or when you provide an email address; our main way of communicating with you about your account will be by email, unless a letter is required.

Interest is calculated on each penny in the account.

This account does not come with a card, passbook or certificate.

Interest rate definitions explained:

  • 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.

The treatment of your account for tax purposes will depend on your individual circumstances and you may need to pay tax on any interest that exceeds your Personal Savings Allowance. For more information please visit HM Revenue & Customs’ (HMRC) website hmrc.gov.uk

The tax information provided is based on our understanding of current law and HMRC practice, both of which may change.

The interest rate and information in this summary box are effective from 7 June 2019.

This Summary Box sets out the key features of the savings account. For full details, please read the account terms and conditions.

Our Banking app is available on the App Store or on Google Play™ on selected devices. Apple, and App Store are trademarks of Apple Inc., registered in the U.S. and other countries. Google Play is a trademark of Google Inc.

Before you apply, please make sure you read the Summary Box and Terms and Conditions in full and print or save a copy for reference.

Piggy bank hiding under a mat

Help with your savings

Our support pages have information on how to manage your account and view interest rates.

Savings and cash ISA support