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
The treatment of your account for tax purposes will depend on your individual circumstances. For more information
please visit HM Revenue & Customs’ (HMRC) website hmrc.gov.uk. 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.