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Why choose Limited Access Saver?

Offering you the flexibility to make up to five withdrawals in 12 months without your interest rate dropping.

  • Interest rate: 0.75% AER/gross p.a. (variable) if you make up to five withdrawals a year
  • Manage your money: online and in branch

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

Limited Access Saver Issue 7

What is the interest rate?

The interest rate on this account is dependent on the number of withdrawals you make during the Account Year.

Withdrawals per account year

Interest rate AER/gross p.a. (variable)
5 or fewer 0.75%
6 or more 0.10%

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 can be paid to the account which has been nominated for making withdrawals, or to another current account or savings account 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. This means we have the ability to change the interest rate.

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 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 a £1,000 deposit?

The estimated balance would depend on the number of withdrawals made in an Account Year:

Withdrawals made in Account Year Interest Rate AER/gross p.a.(variable) Balance after 12 months
0 0.75% £1,007.50

The table above shows the balance on an initial deposit of £1,000 after 12 months, where no withdrawals have been made and interest has been added to the account.

Withdrawals made in Account Year Interest Rate AER/gross p.a.(variable)* Balance after 12 months
6 0.10% £944.13

The table above shows the balance on an initial deposit of £1,000 after 12 months, where a £10 withdrawal was made on the 1st day of each calendar month, for the first 6 months (£60 total withdrawn) and with interest added to the account.

*This interest rate is only applied once a 6th withdrawal has been made in the same Account Year, and will be applied for the rest of that Account Year.

The estimated balances are for illustration only and assume that:

  • interest is paid into the account
  • 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
  • be aged 16 or over
  • not be the subject of bankruptcy proceedings or registered as bankrupt.

You can only hold one Limited Access Saver or one Limited Access Online Saver (sole or jointly).

You can open this account:

  • using the 'Start application' button below this Summary Box (if you’re not already registered for internet banking, you’ll be registered as part of the opening process)

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

  • in branch.

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

You can manage your account:

  • via the Internet Bank and Banking app

  • via a Nationwide ATM, if you have a card (you can choose to have a card if you apply for the account in branch).

Statements will be available on the Internet Bank or can be requested in branch, on a monthly basis when a transaction has been made.

It’s easy to move your savings between your existing Nationwide savings accounts or to open a new savings account with us. Simply go to, 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 with a limit of 5 withdrawals per Account Year. Make a 6th withdrawal and you can still access your money but a lower interest rate will apply for the remainder of the Account Year.

Subject to the balance in your account, 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*
  • withdraw up to £500 a day in cash from a Nationwide cash machine (if you have a card)
  • withdraw cash (up to £500) or cheque (up to £500,000) from one of our branches if you have chosen to have a card on the account.

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

Additional information

Account Year means the 12-month period from the date that the account was opened until the day before the account anniversary. This applies to each period of 12 months thereafter.

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 daily on each penny in the 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

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

The interest rates and information in this summary box are effective from 21 June 2018.

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

Please note, beneficiaries can no longer be added to this account.

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