IMPORTANT: Our Savings General Terms and Conditions and the terms and conditions that apply specifically to this product are changing. The changes will apply from 1 May 2018. Please follow the relevant terms and conditions links on this page to see a summary of the changes.

If your Loyalty Saver account was opened before 3 July 2013, please see Loyalty Saver (for accounts opened before 3 July 2013) for the terms and conditions of your account.

In addition to the Savings General Terms and Conditions, the following conditions apply to Loyalty Saver accounts opened on or after 3 July 2013. If there is a conflict between the Savings General terms and conditions and these Loyalty Saver conditions, these Loyalty Saver conditions will take priority.

Account holding and ownership

  1. The account is only available to individuals who are UK residents aged 18 or over and who have been a continuous member of Nationwide for at least one year immediately prior to opening this account.
  2. The account can have a maximum of two joint account holders. Only one account holder must meet the opening eligibility criteria.
  3. You can only be the first named account holder of one Loyalty Saver account, which can be held in either sole or joint names.
  4. The account can be opened in trust, providing the account beneficiary meets the account eligibility criteria.
  5. The minimum initial deposit is £1, and the minimum operating balance is £1.
  6. The maximum balance on the account is £100,000.


  1. Interest is calculated daily and paid annually on 31 December each year into the account, a Nationwide current or savings account (subject to the terms and conditions of that receiving account), or a current account with another bank or Building Society.
  2. We will calculate interest on each whole pound in the account.
  3. The interest rate payable on the account is variable and is determined by the number of years an account holder has been a continuous member of Nationwide. If there is more than one account holder the interest rate payable will be based on the length of membership of the account holder with the longest period of continuous membership prior to opening this account.
  4. As your length of membership increases from time to time you will qualify for a new rate of interest. When this happens we will inform you when the new rate will apply.

Taking money out

  1. You can withdraw any available funds in the account without notice or loss of interest.