Overview
- Nationwide began emailing members this week to promote a Member Exclusive Bond that pays 5% AER fixed for 15 months on balances up to £10,000 and only accepts deposits during the first 14 days after opening.
- Once opened, the bond does not permit withdrawals until the 15-month term ends and a full £10,000 deposit would earn about £631.30 in interest over the term.
- To open the bond members must be UK residents aged 16 or over who were Nationwide members on 20 May 2026 and remain members when they apply, and they need Nationwide internet banking and a valid email address.
- Nationwide says that when fixed-rate bonds mature it will move the money into an instant-access savings account and notify members of the change and the new rate.
- Nationwide’s instant-access saver currently pays around 1.1–1.2%, which means savers rolling off a 4% fixed bond could face a roughly 3.9 percentage-point drop in interest, and the building society is also issuing a £100 Fairer Share payment to over four million eligible members.