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Boost your savings towards a first home with Nationwide's Help to Buy: ISA

If you're a first time buyer, our Help to Buy: ISA could really make a difference. It's designed to take advantage of the Help to Buy Scheme, to boost your savings towards a property purchase by 25%.

If you’re 16 or over you can open an account (provided you meet the eligibility criteria†), with an initial deposit of up to £1,200, and then make further contributions of up to £200 per calendar month. (You can contribute to another Nationwide cash ISA product at the same time, as long as you don't exceed your total ISA tax-free savings allowance each year.)

*The Help to Buy: ISA bonus

When you are ready to buy your property, your conveyancer claims your bonus (25% of your closing balance) from the Scheme, to put towards your purchase. So for every £200 you save, the government will add £50. The minimum bonus is £400 (on a minimum savings balance of £1,600) and the maximum is £3,000 (on a savings balance of £12,000). Of course, you might want to save more with us until you’re ready to buy.

The opening of a Help to Buy: ISA does not automatically entitle you to a government bonus. The government bonus is paid before completion, usually between exchange and completion.

Help to Buy Logo - Backed by HM Government

The Scheme applies to properties in the UK with a purchase price of up to £250,000 outside London and £450,000 within certain London Boroughs as specified in the Help to Buy: ISA Scheme Rules. For shared or joint ownership properties the purchase price means the full sale price of the property, not just the cost of the initial share being bought.

Summary Box

Account name

Help to Buy: ISA

What is the interest rate?

2.00% AER/tax-free (variable)

Interest is calculated daily and paid on the anniversary of opening and on closure.

You can choose to have interest added to your account, a Nationwide current or savings account (subject to the terms and conditions of the receiving account) or a current account with another bank or building society.

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 in the Savings General terms and conditions which sets out when we can vary the interest rate and how we will notify you if this happens.

What would the estimated balance be after 12 months based on a £1,200 deposit?

The balance on an initial deposit of £1,200 with an interest rate of 2.00% AER/tax-free (variable) after 12 months would be £1,224.00.

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.
  • Individual circumstances do not change.

How do I open and manage my account?

To open this account:

  • You need to be aged 16 or over
  • An Eligible Customer and have never owned a residential property, as set out in the Government’s Help to Buy: ISA Scheme Rules.

For full details of the Scheme Rules, please visit or ask us for a copy in branch.

Please note:

  • You can open a Help to Buy: ISA with a zero balance when you complete the online application form or in branch
  • If you open your account via the Internet Bank or Banking app, you’ll need to make a minimum initial deposit of £1. However, please note that your initial month’s deposit allowance of up to £1,200 must be completed within the first calendar month of opening
  • Pay in up to £1,200 in the calendar month in which you make your first deposit into the account.
  • Pay in up to £200 each subsequent month.

You can open this account:

  • Using the 'Start application' button below this Summary Box
  • Via our Internet Bank (if you're registered)

  • Using our Banking app (you must be registered for Internet banking)

  • In branch

  • By transferring from an existing Help to Buy: ISA held with another ISA provider. Please note the whole balance must be transferred and that account closed. You can do this in branch or you can request an ISA transfer pack by post.

You can manage your account:

  • Via the Internet Bank or Banking app (you must be registered for Internet banking)
  • In branch.

Please note: after the initial deposit, you’ll need a minimum of £1 in the account for it to operate and stay open.

It’s easy to move your savings between your existing Nationwide savings account or to open a new savings account with us. We can also close your existing savings account if you want us to. Simply go to, use our Banking app 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:

  • Withdraw up to £500 in cash a day or up to £500,000 by cheque at any of our branches.
  • Transfer money to another Nationwide current account or instant access savings account held in your name, using our Internet Bank or Banking app (if you’re registered for Internet banking).

If you withdraw any funds after depositing it will still count towards your monthly allowance. For example if you deposited £150 and withdrew £100 you can still put £50 into the account for that calendar month.

You can replace any withdrawn money from your cash ISA, as long as you withdraw and replace it in the same tax year, without impacting your annual ISA allowance.

Please note: any money, including interest, withdrawn before the account is closed will not count towards the government bonus.

Additional information

Claiming the Government Bonus:

You may be eligible to claim a bonus of 25% of your closing balance (subject to a maximum bonus payment of £3,000). This is claimed from the government by your conveyancer when you purchase a property.

  • Your closing balance must be at least £1,600.
  • Opening the account doesn't automatically entitle you to a bonus.
  • The government bonus is paid before completion.
  • Scheme Rules and property criteria apply.
  • For full details of the Scheme Rules and property eligibility, please visit or ask us for a copy in branch.

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.
  • Tax-free is the contractual rate of interest payable where interest is exempt from income tax.

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

The rates and information in this summary box are correct as at 6 April 2017.

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

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.