Nationwide

Nationwide savings accounts

Nationwide has a variety of savings accounts with interest rates up to 4.75%

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Nationwide is the word’s largest building society and one of the UK’s largest savings providers. As a mutual it’s owned by and run for the benefit of its members.

Nationwide uses the money deposited by savers to help members get mortgages.

It offers a broad range of savings accounts, so whether you’re looking to save your money for a rainy day, or you’re willing to let your money mature over a longer period of time, Nationwide has options.

Fixed-rate bonds

Table: sorted by interest rate, promoted deals first
Name Product Interest rate Invest Interest paid Withdrawals Deposit protection Incentive Apply link
Nationwide BS – 3 Year Fixed Rate Online Bond
4.75% AER fixed for 3 years
£1 - £5,000,000
Anniversary of account opening
Withdrawals not permitted
FSCS logo
protected

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Nationwide BS – 2 Year Fixed Rate Online Bond
4.5% AER fixed for 2 years
£1 - £5,000,000
Anniversary of account opening
Withdrawals not permitted
FSCS logo
protected

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Cash ISAs

Table: sorted by interest rate, promoted deals first
Name Product Interest rate Minimum investment Interest paid Withdrawals Deposit protection Incentive Apply link
Nationwide BS – 1 Year Triple Access Online ISA 14
2.5% AER variable
£1
Anniversary of account opening
1 days notice needed
FSCS logo
protected

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Nationwide BS – 1 Year Triple Access Online ISA 14
0.75% AER variable
£1
Anniversary of account opening
1 days notice needed
FSCS logo
protected

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Nationwide instant access savings accounts

Table: sorted by interest rate, promoted deals first
Name Product Account type Withdrawals Min. opening balance Interest rate Incentive Apply link
Nationwide BS – 1 Year Triple Access Online Saver 15
Variable
1 days notice needed
£0
2.5% AER variable
Nationwide BS – Flex Instant Saver
Variable
1 days notice needed
£1
2.25% AER variable
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Regular savings accounts

Table: sorted by interest rate, promoted deals first
Name Product AER Save Notice Interest paid Deposit protection Incentive Apply link
Nationwide BS – Start to Save Issue 2
3.5% variable (on first £1,200)
£0 to £50 per month
2 year bond
Anniversary of account opening
FSCS logo
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Nationwide’s cash ISAs explained

An individual savings account (ISA) lets you earn interest tax-free, although there is a limit on how much you can put into an ISA each year. The various cash ISAs on offer from Nationwide are explained below.

Triple Access Online ISA

  • You must have a main current account with Nationwide.
  • Savers can make up to 3 withdrawals during the 1-year life of the account. If any more withdrawals are made, then the interest rate will reduce.
  • Save up to the maximum ISA allowance for the year (£20,000 for 2022-2023)

    Inheritance ISA

    • Only available to savers whose spouse or partner passed away with ISA savings
    • You can make unlimited withdrawals.
    • Does not allow transfers in from other cash ISAs

    What is a building society?

    A building society is a financial institution owned by its members. Whereas banks are normally listed on the stock market and run for their shareholders, building societies aren’t.

    Because they don’t have shareholders to pay, building societies have historically claimed to offer better interest and cheaper mortgage rates than banks offer.

    Start to Save prize draw account

    Nationwide’s Start to Save account is all about getting you – and keeping you – motivated about saving, with a chance to win £250 in one of its prize draws.

    All you need to do is save between £25 and £50 each month in each of the 6 months leading up to a prize draw to be in with a chance of winning.

    It offers a rate of 2.50% AER/gross a year (variable) for 24 months and you can manage it online or by using Nationwide’s banking app. You can take our your money if you want to – but it might affect your entry into the prize draw.

    How to set up a Nationwide savings account

    This depends on whether or not you’re already registered with Nationwide. Current members can open an account online, and may be able to do so without showing any proof of identity. Nationwide will let current customers know if they need physical proof.

    New customers will have to go into a branch and will need to bring UK photo identification – either a passport or driving licence – plus proof of name and proof of address. Examples include:

    • A bank statement from within the past 3 months
    • A valid full EEA passport
    • A benefits letter from the last year
    • A valid student ID from a UK university
    • UK gas or electricity bill (less than 3 months)
    • UK phone bill (not mobile, less than 3 months)
    • A benefits letter from the last year (last 12 months)

    There’s a full list of eligible documents, which explains those that are specifically for name or address, on the Nationwide website. If you’re setting up a savings account as a child then you’ll need to provide your passport or birth certificate along with proof of where you live.

    Does Nationwide offer online or mobile banking?

    Yes, it offers both. Here are some of the basic features:

    Online banking

    • Check balances. For any type of account.
    • Transfer money between accounts. In a matter of seconds.
    • Pay bills and people. All within the online portal.

    Mobile banking

    • All of those features. On the go.
    • Secure login. Log in to your account by simply using your fingerprint.
    • Filter and compare. View up to 15 months’ transactions and compare your income and expenses.

    The bottom line

    Nationwide’s broad range of savings accounts mean that it should be easy to find one to suit you, whether you need instant access to your money or are happy to lock it away for a fixed period of time. Sadly, it has reduced the range of cash ISAs on offer, so you may want to do your research to search for an ISA more suited to your needs.

    Because it is owned by its members and doesn’t need to pay any shareholders, there’s a chance that a Nationwide savings account might get you better interest and cheaper mortgage rates than banks – but be sure to check our other savings accounts reviews to find the best deal for you.

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    4 Responses

    1. Default Gravatar
      NormaFebruary 22, 2019

      My wife is a pensioner who is looking for a savings account that pays a good interest rate. She is thinking of putting in about £10000 pounds. She doesn’t mind tying up her money for 2 or 3 years.

      • Avatarfinder Customer Care
        JoshuaFebruary 24, 2019Staff

        Hi Norma,

        Thanks for getting in touch with Finder. I hope all is well with you. :)

        One of your options would be Nationwide Saving Accounts. If after checking its features and you could see that it’s the right account for you, then you can directly get in touch with them to start your application.

        Moreover, you can also check other options here. On that page, you will see a table that allows you to conveniently compare savings accounts based on account type, interest rate, and protection scheme, to name a few. Once you found the right one for you, click on the “Go to site” green button to learn more or initiate your application.

        I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

        Have a wonderful day!

        Cheers,
        Joshua

    2. Default Gravatar
      ManideepaDecember 27, 2018

      Does Nationwide Bank accept other form of photo ID apart from the standard items?

      • Avatarfinder Customer Care
        CharisseDecember 28, 2018Staff

        Hi Manideepa,

        Thanks for reaching out to finder.

        Nationwide only has two acceptable UK photo IDs on their list- a valid full UK passport and a valid full UK photocard driving licence. However, if you cannot produce any of the documents on their list, you can contact your local branch as there may be other forms of identification they can take.

        I hope this helps.

        Cheers,
        Charisse

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