Summary box
Account name
Flex Instant Saver 4
What is the interest rate?
2.75% AER/gross a year (variable).
Receiving your interest
- We work out your interest daily. This is then paid into your account on the 12-month anniversary of your account opening.
- If you close your account early, we’ll pay your interest on the day it’s closed into another Nationwide current or savings account, or a current account with another UK provider. This account must be in your name, and be able to accept payments.
Can Nationwide change the interest rate?
Yes, the rates are variable. That means we can change them, up or down.
Section 04 of ‘Our Savings Terms and Conditions’ explains when we can do this, and how we’ll let you know.
You can also check our current rates in your branch, or online at nationwide.co.uk/savingsrates
What would the estimated balance be after 12 months based on a £1,000 deposit?
Based on an interest rate of 2.75% AER/gross a year (variable), your estimated balance would be £1,027.50.
This figure is an example and assumes:
- you don’t pay any more money in or take any out
- the interest is paid into the account
- the interest rates shown do not change.
How do I open and manage my account?
1. Check you can have this account
You need to:
- be 16 or over
- be a UK resident
- have a valid email address and mobile number, and be able to manage this account online
- have one of our current accounts.
If at any point after you open this account you no longer have a current account with us, we may transfer the money in your Flex Instant Saver to a different instant access savings account. Terms and conditions and the interest rate for this account will apply and we’ll be in touch to let you know the details before we make the transfer.
You cannot open this account in trust for the benefit of another person.
2. How to open your account
You can open an account in your name or jointly with one other person. For joint accounts, only one of you needs to have one of our current accounts.
You can do so:
- on nationwide.co.uk using the 'Start application' button below this Summary Box
- on our Internet Bank or Banking app (if you’re registered)
You need to pay money into your account within 60 days or the account will close. You can pay in any amount up to £5 million.
3. Manage your account
- This is an online account - you can manage your money through the Internet Bank or Banking app.
- You can’t pay in or withdraw cash or cheques and you’ll find your statements on the Internet Bank.
Can I withdraw money?
Yes, you can use our banking app or internet bank to transfer money to any Nationwide savings or current account that’s in your name and accepts payments. You can also transfer money to a current account you hold with another UK provider, as long as it accepts ‘Faster Payments’.
At the end of the term
After 12 months, we’ll move your money to another instant access savings account with a lower interest rate. We’ll be in touch before this happens to explain your options and next steps.
Additional information
- This account does not come with a card, passbook or certificate.
- As long as we have an up to date email address for you, we’ll usually contact you about your account by email, otherwise we’ll send you a letter.
Interest rate terms explained
AER
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Gross
The interest rate without tax deducted.
Personal Savings Allowance (PSA)
You may need to pay tax on any interest that takes you over your PSA. The treatment of your account for tax purposes will depend on your individual circumstances. All tax information is based on our understanding of current law and HM Revenue & Customs practice, both of which may change. For more information, visit hmrc.gov.uk
The interest rates and information in this summary box came into effect on 2 May 2025.
