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Why choose Loyalty Single Access ISA?

Interest rate

1.40% AER / tax-free (variable)

Access to your money

Limited to one withdrawal per account year. Make more than one and the rate drops to 0.50% AER / tax-free (variable).

Manage your money

In branch

Designed for:

  • Savers who have held a Nationwide current account, mortgage or savings account continuously for more than one year
  • Savers who are happy to make only one withdrawal per account year

Not designed for:

  • Savers who have not held a Nationwide current account, mortgage or savings account continuously for more than one year
  • Savers who want to make more than one withdrawal per account year

A cash ISA allows UK residents aged 16 or over to save up to their annual ISA allowance tax-free with one provider each tax year. The allowance is £20,000 for 2019/2020. With other savings accounts, you may have to pay tax on the interest you earn, depending on your Personal Savings Allowance. The interest on a cash ISA is tax-free, so all the interest you earn, you keep.

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Summary Box

Account name

Loyalty Single Access ISA Issue 2

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/tax-free (variable)
1 or none 1.40%
2 or more 0.50%

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

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 conditions?" and "How will we tell you about interest rate changes?" sections of the Cash ISA 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.

What would the estimated balance be after 12 months based on a £1,000 deposit?

Withdrawals made in Account Year Interest rate AER/tax-free (variable) Balance after 12 months
0 1.40% £1,014.00

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/tax-free (variable) Balance after 12 months
2 0.50%* £986.41

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 2 consecutive months (£20 total withdrawn) and with interest added to the account.

*This interest rate is only applied once a 2nd 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 aged 16 or over
  • not have paid in more than the annual ISA allowance in total to a cash ISA, a stocks and shares ISA, an innovative finance ISA and a Lifetime ISA in this tax year
  • not have paid in to another cash ISA in this tax year (unless you are transferring the money paid in to the other cash ISA to this one)
  • be resident in the UK for tax purposes or, if not so resident, either perform duties which, by virtue of Section 28 of Income Tax (Earnings & Pensions) Act 2003 (Crown employees serving overseas), are treated as being performed in the UK, or you must be married to, or in a civil partnership with, a person who performs such duties
  • pay in a minimum of £1
  • you’ll need to have been a continuous member* of Nationwide for a minimum of 1 year.

*What is a member?

A member means a customer with a Nationwide current account, savings account or mortgage. The following product holdings don’t carry membership rights: deposit accounts, personal loans, credit cards, insurance products, products offered by subsidiaries of the Society such as The Mortgage Works (UK) plc.

If you were a member of another building society that has merged with Nationwide, this will count towards your length of membership with Nationwide. For all ex-Dunfermline customers, your membership date starts on 30 March 2009 as this was an acquisition rather than a merger.

Please note:

  • there is a maximum of one account holder
  • from time to time we may offer new ‘Issues’ of the Single Access ISA and/or the Loyalty Single Access ISA
  • you can apply to open a new product from the new ‘Issue’, even if you already have one from a previous ‘Issue’. But you can only hold one account, either a Single Access ISA or a Loyalty Single Access ISA, from each ‘Issue’.

You can open this account:

If you already have an ISA with us or another provider, you can transfer your existing ISA to us in branch or via an online application form on

You can manage your account:

  • via our Internet Bank or Banking app - if you’re registered
  • in branch.

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 Internet Bank or Banking app or visit one of our branches.

Can I withdraw money?

Yes, you can make 1 withdrawal per Account Year without any reduction in the interest rate. Further withdrawals are allowed but will result in a lower rate of interest being paid for the remainder of the Account Year.

Subject to the account balance, 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 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
  • make transfers by CHAPS (please note, this service is only available in branch and there is a fee payable).

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.

Additional information

Account Year means the 12 month period from the date that the account was opened and each subsequent period of 12 months thereafter.

You can choose to have interest paid to you by having it added to your account, or by asking us to pay it into a different Nationwide current or savings account (as long as it is possible to make interest payments into that account) or a current account with another building society or bank.

Interest is calculated on each whole pound 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
  • Tax-free is the contractual rate of interest payable where interest is exempt from income tax.

The treatment of your account for tax purposes will depend on your individual circumstances. 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 6 April 2019.

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 and Conditions in full and print or save a copy for reference.

Other important information

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Help with your savings

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

Savings and cash ISA support