This Key Product Information gives you information that is specific to the particular savings account you have with us. It forms part of the terms and conditions of your account and needs to be read together with the other documents that make up your agreement. If anything is inconsistent between those documents and this Key Product Information, this Key Product Information will apply.

Fixed Rate e-Bond

This account is designed for those who want to save money with the confidence that the interest rate won’t change for a fixed period, who are unlikely to need access to their money during that period and who want to manage their account online.

These terms only apply if your account was opened on or after 1 May 2018.

Conditions for holding your account

  1. You need to be aged 16 or over.
  2. You cannot have more than £5 million in this account. The £5 million limit does not include any interest calculated on the account balance and added to the account.
  3. The account can be held in a sole name or in joint names with a maximum of two joint account holders. All account holders must meet these conditions for holding the account.
  4. You must have a 'linked' Nationwide current account that is held in the same name(s) as this account.
  5. You must be registered to use the Internet Bank and maintain a valid email address.
  6. If you already have other Fixed Rate e-Bond accounts with us, we may refuse to allow you to open a new Fixed Rate e-Bond account with us.


  1. There is a fixed term for this account and we will provide you with details of the term that applies to your Fixed Rate e-Bond issue at account opening. The fixed term will start on the day you open your account.
  2. After the fixed term ends ('maturity') your money will be transferred into an instant access savings account. The terms and conditions and the interest rate applicable to that account, at that time, will apply. We will personally notify you before making this transfer.

Managing your account

  1. You can access your account using the Internet Bank or our Banking app.
  2. If the account is held in joint names, you cannot choose that any instructions on the account must be given by both account holders.
  3. Your account can be operated using a valid UK Power of Attorney or Court of Protection order or Curator Bonis (Scotland) unless there is a requirement for two or more representatives to act jointly.

Earning interest on money in your account

  1. The interest rate payable on the account is fixed for the term of the account. We will provide you with details of the interest rate that applies to your Fixed Rate e-Bond issue at account opening.

Annual interest

  1. If the fixed term for your Fixed Rate e-Bond is one year or less, interest will be added to this account at the end of the fixed term.
  2. If the fixed term is more than one year, you can choose to have annual interest added to this account or paid into a Nationwide current account in your name at the end of the day before each anniversary of the account opening and on maturity.
  3. Interest is also paid on the date your account is closed.

Monthly interest

  1. Monthly interest is paid into a Nationwide current account in your name at the end of each month, at the end of the fixed term and on the date your account is closed. If you open your account towards the end of the month, your first interest payment may not be paid until the end of the following month.

Restrictions on paying money into your account

  1. Once you have paid in money to open your account you cannot make any additional payments into the account.

Restrictions on withdrawing money from your account

  1. You cannot make partial withdrawals from your account.
  2. You can close the account and withdraw the whole of the balance during the fixed term, subject to the payment of an early access charge. The early access charge will depend on the length of the fixed term and will be based on the number of days' interest at the rate applicable to your Fixed Rate e-Bond issue, as follows:
Details of early access charge for fixed rate e-Bonds
Fixed rate term Early access charge
One year or less Equivalent to 90 days' interest
More than one year, up to two years Equivalent to 180 days' interest
More than two years, up to three years Equivalent to 270 days' interest
More than three years, up to four years Equivalent to 320 days' interest
More than four years Equivalent to 365 days' interest

The early access charge will not apply if the account is closed early due to the death of the account holder (or, if there are two joint account holders, on the death of the last surviving account holder) or if the account is closed during the 14 day cancellation period described in the 'Closing your account' section of the Savings General Terms and Conditions.

  1. If your account is closed early, we will pay you the balance of the money in your account together with any accrued interest, less the amount of the early access charge. If the amount of the early access charge is more than the accrued interest, the difference will be deducted from the money in your account. The withdrawal can only be made by internal transfer to your 'linked' Nationwide current account.

Important related links

Protecting your money

The Financial Services Compensation Scheme (opens in a new window) (FSCS) is a free, independent service that protects up to £85,000 of your eligible money at Nationwide.