Why choose FlexOne Regular Saver?

FlexOne Regular Saver

Interest is calculated daily and paid annually into the account on 31 December and on the date the account is closed.

Yes, the interest rate is variable.

Please see the “Variation of your interest rate and other account terms and conditions” 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 will notify you if this happens.

This estimated balance is for illustration only and assumes that:

• the account was opened on 1 January
• each deposit is made on the first day of each calendar month
• no further deposits or withdrawals are made
• there is no change to the interest rate.

To open this account you must:

• be a UK resident aged 11-17 years old
• hold a FlexOne current account.

You can open this account with a minimum of £1 up to a maximum of £100.
You can only hold one FlexOne Regular Saver account.

You can open this account:

• In branch.

You can manage your account:

• via the Internet Bank or Banking app (if you're registered for internet banking)

• in branch.

You don’t have to make a deposit each month, but the maximum you can increase your balance by each calendar month is £100.

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

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

Subject to your account balance, you can:

• take money out by transferring funds to your FlexOne current account, or another Nationwide account in your name (as long as it is possible to make payments into the account), using our Internet Bank or Banking app (if you’re registered for internet banking).

Please note: you can increase your balance by £100 each calendar month, so you can replace any money withdrawn. For example, in the same month - if you pay in £100 and then take out £50, you can still pay £50 back into your account.

Interest is calculated on each whole pound in the account.

When you reach 23 years old, your FlexOne Regular Saver account will be closed and any balance transferred to an instant access savings account.

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.

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.co.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 25 May 2018.