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Why choose Limited Access Saver?

Interest rate

0.50% AER/gross p.a. (variable)

Access to your money

Limited to five withdrawals per account year. Make more than five and the rate drops to 0.10% AER/gross p.a. (variable).

Manage your money

In branch

Designed for:

  • Savers who are happy to only make up to five withdrawals per account year

Not designed for:

  • Savers who want to make more than five withdrawals per account year
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Account details

Explore the key features and benefits of this account in our Summary Box before moving on to start your application.

Summary Box

Account name

Limited Access Saver Issue 8

What is the interest rate?

The interest rate on this account is dependent on the number of withdrawals you make during the Account Year.

Withdrawals per account year

Interest rate AER/gross p.a. (variable)
5 or fewer 0.50%
6 or more 0.10%

Interest is calculated daily and is paid annually on the anniversary of account opening and on the date the account is closed.

Interest is paid to the account, except for the interest paid on closure which can be paid to the account which has been nominated for making withdrawals, or to another current account or savings account you may hold with Nationwide (as long as it’s possible to make payments in to the account).

Can Nationwide change the interest rate?

Yes, the interest rate is variable. This means we have the ability to change the interest rate.

Please see the “Variation of your interest rate and other account terms” and “How will we tell you about interest rate changes?” sections of the Savings General Terms and Conditions which sets out when we can vary the interest rate and how and when we'll notify you if this happens.

What would the estimated balance be after 12 months based on a £1,000 deposit?

The estimated balance would depend on the number of withdrawals made in an Account Year:

Withdrawals made in Account Year Interest Rate AER/gross p.a.(variable) Balance after 12 months
0 0.50% £1,005.00

The table above shows the estimated balance on an initial deposit of £1,000 after 12 months, where no withdrawals have been made and interest has been added to the account.

Withdrawals made in Account Year Interest Rate AER/gross p.a.(variable)* Balance after 12 months
6 0.10% £944.13

The table above shows the estimated balance on an initial deposit of £1,000 after 12 months, where a £10 withdrawal was made on the 1st day of each calendar month, for the first 6 months (£60 total withdrawn) and with interest added to the account.

*This interest rate is only applied once a sixth withdrawal has been made in the same Account Year, and will be applied for the rest of that Account Year.

The estimated balances are for illustration only and assume that:

  • no further deposits or withdrawals are made
  • there is no change to the interest rate.

How do I open and manage my account?

To open this account, you must:

  • be a UK resident aged 16 or over

You can open this account:

You can have up to two joint account holders. Once the account is open, you have 28 calendar days to make a deposit (up to a maximum of £5,000,000) otherwise the account will close.

You can manage your account:

  • via the Internet Bank and Banking app
  • via a Nationwide ATM, if you have a card (you can choose to have a cash card if you apply for the account in branch).
  • in branch - if you have a cash card.

Statements will be available on the Internet Bank or can be requested in branch, on a monthly basis when a transaction has been made.

It's easy to move your savings between your existing Nationwide savings accounts or to open a new savings account with us. Simply go to, use our Internet Bank or Banking app or visit one of our branches.

Can I withdraw money?

Yes, you can make 5 withdrawals per Account Year without loss of interest. Further withdrawals are allowed but will result in a lower rate of interest for the remainder of the Account Year.

Subject to the balance in your account, you can:

  • transfer money to another Nationwide current account or savings account held in your name, (as long as it is possible to make payments into the account), using our Internet Bank or Banking app - if you’re registered
  • transfer money to your nominated account. This can be a Nationwide current or savings account, or a current account held with another UK provider. It must be held in your name, either as a sole or joint account holder, and be registered at the same address. This account must be able to accept payments*
  • withdraw up to £500 a day in cash from a Nationwide cash machine (if you have a cash card)
  • withdraw up to £500 in cash a day or up to £500,000 by cheque in any of our branches - if you have a cash card.

*Please note, transfers to a nominated account held with another UK provider will be made by Faster Payment.

Additional information

Interest is calculated on each penny in the account. Account Year means the 12 month period from the date that the account was opened until the day before the account anniversary. This applies to each period of 12 months thereafter.

When applying online or when you provide an email address; our main way of communicating with you about your account will be by email, unless a letter is required.

Interest rate definitions explained:

  • AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
  • Gross p.a. is the interest rate without tax deducted.

The treatment of your account for tax purposes will depend on your individual circumstances and you may need to pay tax on any interest that exceeds your Personal Savings Allowance. For more information please visit HM Revenue & Customs’ (HMRC) website The tax information provided is based on our understanding of current law and HMRC practice, both of which may change.

The interest rates and information in this summary box are effective from 7 June 2019.

This Summary Box sets out the key features of the savings account. For full details, please read the account terms and conditions.

Please note, beneficiaries can no longer be added to this account.

Before you apply, please make sure you read the Summary Box and Terms and Conditions in full and print or save a copy for reference.

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Help with your savings

Our support pages have information on how to manage your account and view interest rates.

Savings and cash ISA support