Financial institution Nationwide introduces high-interest savings account nationwide: Identifying individuals eligible for it.
Nationwide Building Society Announces Competitive 18-month Fixed-rate Savings Account
Nationwide Building Society has rolled out a new 18-month fixed-rate savings account, appealing to its existing customers with a 5.50% annual equivalent rate (AER/gross). The Member Exclusive Bond, launched alongside a £100 'Fairer Share' payment and a £200 member switching incentive, is now the highest-paying fixed-rate savings account in the market. To be eligible, customers must have held a Nationwide current account, savings account, or mortgage account on May 29, 2025, and at the time of application.
Eligible account holders can deposit a maximum of £10,000, with interest totalling £762.50 over the 18-month period—£150 more than would be earned in Nationwide's next highest-rate bond, a one-year fixed-rate account with a 4.00% return. For those seeking to save more than the £10,000 cap, Oxbury Bank's 18-month bond remains an attractive alternative, paying 4.45% interest. Castle Trust Bank's best one-year fixed-rate bond offers 4.44% AER/gross, earning £453 for a £10,000 deposit at the end of the term.
To open the Member Exclusive Bond, customers can use internet banking, the Nationwide mobile app, or visit a branch. Note that there is no early withdrawal option for the Member Exclusive Branch Bond. After the 18-month term, the Member Exclusive Online Bond will be converted to an instant-access account. The end-of-term management for the Member Exclusive Branch Bond is currently unspecified.
Andrew Hagger, personal finance expert and founder of Money Comms, views the 18-month bond as an attractive offering despite the £10,000 deposit limit. Hagger notes that the account's return is 0.55% higher than the current best buy from Oxbury Bank at 4.45%. He encourages Nationwide members to seriously consider the Member Exclusive Bond due to its competitive interest rate.
Prospective savers should carefully review the terms and conditions associated with this account before making a decision, as early withdrawal charges may apply and other details pertaining to the Member Exclusive Branch Bond's end-of-term management are yet to be disclosed.
[1] You can learn more about the Member Exclusive Online Bond here.[2] You can learn more about the Member Exclusive Branch Bond here.[3] For comprehensive information on the account's rules, visit Nationwide's website.[4] The Member Exclusive Online Bond's end-of-term conversion details are available here.
- For those interested in the Member Exclusive Online Bond, which has a competitive interest rate and is now the highest-paying fixed-rate savings account in the market, they can learn more about its terms and conditions on Nationwide's website.
- Additionally, eligible Nationwide members can consider the Member Exclusive Branch Bond, which offers a slightly lower interest rate but no early withdrawal option and conversion to an instant-access account at the end of the term. More details about this account can be found on Nationwide's website.
- As for those seeking to save more than the £10,000 cap set by the Member Exclusive Bond, Oxbury Bank's 18-month bond remains an attractive alternative, paying 4.45% interest, and Castle Trust Bank's best one-year fixed-rate bond offers 4.44% AER/gross, earning £453 for a £10,000 deposit at the end of the term.
In the context of personal finance, the Member Exclusive Bond from Nationwide Building Society, as well as other savings accounts and investments, can have a significant impact on an individual's personal-finance goals, money management, and overall financial situation.
