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 Term e-Bond Maturity and e-Bond Maturity

This account is designed as an account into which money held in an e-Bond (for example, a Fixed Rate e-Bond, Stepped Rate e-Bond, Loyalty 2 Year e-Bond or Tracker e-Bond) will be transferred when that e-Bond comes to the end of its fixed term.

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.

Term

  1. There is no fixed term for this account.

Managing your account

  1. You can access your account in any of the following ways:
    • Via the Internet Bank or Banking app (if you are registered to use the Internet Bank).
    • In branch.

Earning interest on money in your account

  1. Interest is paid annually at the end of the day before each anniversary of the account opening and on the date your account is closed.
  2. You can choose to have interest paid to you by having it added to this 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.
  3. The interest rate payable on the account is variable. From time to time, the account may have tiered interest rates, based on the balance in your account. Where this is the case, the interest rate payable on each tier is variable. When the balance in your account changes, taking you into a different tier, the interest rate for the new tier will be applied automatically.

Restrictions on paying money into your account

Fixed Term e-Bond Maturity only

  1. You can pay money into your account using any of the methods set out in the Savings General Terms and Conditions but you must not pay in money that will mean your account then exceeds the maximum balance.

e-Bond Maturity only

  1. You can pay in money to top-up the money transferred in from your maturing e-Bond, provided that the whole of the account balance is then to be transferred into a new e-Bond. Otherwise, you cannot pay any more money into this account.

Restrictions on withdrawing money from your account

  1. Faster Payments are not available for making withdrawals from your account.
  2. You can make partial withdrawals from the account using the Internet Bank or the Banking app. The money can only be transferred to a Nationwide current or savings account (as long as it is possible to make payments into that account) in the name of the account holder, or in the name of at least one of the account holders if the account is held jointly.
  3. If you make a withdrawal in branch, you must withdraw the whole of the balance and close the account.