We’ll pay interest into your account at the end of the day before each anniversary of your account opening. We’ll start to calculate interest on it from the next day.
If you open your account on 29 February, we’ll pay your interest at the end of 27 February.
We’ll also pay interest when you close your account. We’ll then pay the money in your account (including interest) into:
- a current account or savings account you have with Nationwide (as long as it accepts payments); or
- your Nominated Account.
The interest rate we pay on your account is variable, meaning it can go up or down. From time to time, your account may have tiered interest rates based on how much money you have in your account. The interest rate we pay on each tier will be variable. When your balance changes and takes your account to a different tier, we’ll automatically apply the interest rate for the new tier.