Why choose Flex Regular Online Saver?

Get our highest instant-access interest rate with this savings account. For members who have a main current account* with us.

  • Interest rate: 5.00% AER/gross p.a. (variable) for a 12-month term.
  • Save: up to £250 a month. Pay in with a standing order or make deposits when you can.
  • Instant access: make withdrawals at any time.
  • Manage your money: online through the Internet Bank or our Banking app.

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 Regular Online Saver

What is the interest rate?

5.00% AER/gross p.a. (variable)

Interest is calculated daily and is paid annually on the anniversary of account opening and on closure. Interest is paid to the account, except for the interest paid on closure which is paid to the account which has been nominated for making withdrawals.

Can Nationwide change the interest rate?

Yes, the interest rate is variable. This means we have the ability to change the interest rate. Please see the ‘Interest’ section of the Savings General Terms and Conditions (and from 1 May 2018, the ‘Variation of your interest rate and other account terms’ and ‘How we will tell you about interest rate changes?’ sections of the new Savings General Terms and Conditions) which sets 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 12 monthly deposits of £250 totalling £3000?

The estimated balance on 12 monthly deposits of £250 paid on the first day of each calendar month with an interest rate of 5.00% AER/ gross p.a. (variable) would be £3,081.25.

This estimated balance is for illustration only and assumes that:

  • interest is paid into the account
  • no further deposits or withdrawals are made
  • there is no change to the interest rate
  • interest earned will vary, if the dates of deposits differ

How do I open and manage my account?

To open this account, you must be:

  • a UK resident

  • aged 16 or over and a member with a main current account with us. This means you must either:

    1. hold a FlexOne, FlexStudent, 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)
      • completed an account switch to us (from a non-Nationwide account) using our Current Account Switch Team in the last 4 months.

Please note:

  • You can only be the first named account holder of one Regular Saver, Flexclusive Regular Saver, Flexclusive Regular Saver 2 or be an account holder of one Flex Regular Online Saver account at any one time, which can be held in either sole or joint names.

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

You must have a valid email address to open the account.

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

You can open this account:

Once the account is open you have 28 calendar days to make a deposit (up to a maximum of £250) otherwise the account will close.

You can manage your account:

  • via the Internet Bank or Banking app.

You don't have to deposit each month, but the maximum you can increase your balance by each calendar month is £250.

Your transaction history is available on the Internet Bank.

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 Banking app (if registered for Internet Banking) or visit 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.

You can:

  • Transfer money to another Nationwide current account or instant access savings account held in your name, using our Internet Bank or Banking app (if registered for Internet Banking) subject to the terms and conditions of the receiving account.

  • 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. The receiving account must accept payments*.

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

This is a 12 month term product and when this period ends the money will transfer into an instant access account, and the terms and conditions and interest rate of that account, at that time, will apply.

*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.

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.

Interest is calculated daily on each penny in the account

You may need to pay tax on any interest that exceeds your Personal Savings Allowance. For more information, please visit HMRC's website hmrc.gov.uk

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

The interest rate and information in this summary box are effective from 7 March 2018.

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 & conditions in full and print or save a copy of the PDFs below for future 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