Why choose a Fixed Rate Branch Bond?

Interest rate

4.00% AER/gross a year (fixed)

Access to your money

Only when your term ends. There is no option to close a Fixed Rate Branch Bond early to access your money.

Manage your money

In branch and online – using our Internet Bank or Banking app


Is a Fixed Rate Branch Bond right for you?

Certain savings accounts suit certain types of savers. Find out more about who we designed this account for.

Designed for

  • Savers happy to lock away their money for a fixed term

  • Savers looking for an interest rate that won't change

  • Savers who want to open their account in branch

Not designed for

  • Savers who want instant access to their money

  • Savers who want to put away money on a regular basis

  • Savers who want to apply for the account online


Is your bond about to mature?

Find out what your maturity options are, and let us know what you've decided.

Not the right account for you?

Answer a few simple questions and we'll show you what's available.


Account details

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

Information:

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

Summary Box


Fixed Rate Branch Bond


What is the interest rate?

Available interest rates for Fixed Rate Online Bonds by term
Term Annual Interest rates (fixed)
AER Gross a year
1 year Fixed Rate Branch Bond 4.00% 4.00%

Interest is calculated daily on funds once they have been paid into the Fixed Rate Branch Bond during the funding window.

We'll pay the interest on the anniversary of the date you opened your account (regardless of when the account was funded), at the end of the term, and on the day your account closes.


Can Nationwide change the interest rate?

No. The interest rate is fixed, so we can't change it during the term.


What would the estimated balance be at the end of the fixed term based on a £1,000 deposit?

If you fund your account on the date of opening:

Estimated balance at the end of the term on a deposit of £1,000, if you fund your account on the date of opening
Term Annual interest rates (fixed) Balance at end of term
AER Gross a year
1 year Fixed Rate Branch Bond 4.00% 4.00% £1,040.00

If you fund your account 14 days after opening:

Estimated balance at the end of the term on a deposit of £1,000, if you fund your account 14 days after opening
Term Annual interest rates (fixed) Balance at end of term
AER Gross a year
1 year Fixed Rate Branch Bond 4.00% 4.00% £1,038.47

The table above shows what a future balance might look like. It assumes that you keep your account and the money in it until the end of the term.


How do I open and manage my account?

1. Check you can have this account

You need to:

  • be a UK resident aged 16 or over

You can open the account with a minimum of £1 up to a maximum of £5million.

You cannot open this account in trust for the benefit of another person.

Please note: You have 14 days to pay money into your account from the date it's opened. Just so you know, when you pay in from another bank or building society, it may take up to 24 hours from opening the account before they can find your new account details.

Interest will only start to be paid from the day we receive funds into the account, so it's a good idea to pay money into the account as soon as you can. For example, if you don't pay money into your account until day 14 you'll only get interest for 351 days, rather than 365 days.

2. How to open your account

You can open an account:

  • in Branch

3. Manage your account

  • in Branch
  • using our Banking app or the Internet Bank - if you're registered

Can I withdraw money?

Once the account is open, there is a 14 day cancellation period where you will be able to cancel your Fixed Rate Branch Bond and your money will be returned to you.

During the term, you can't take any money out of your account.

At the end of the term

At the end of the term, your Fixed Rate Branch Bond will mature into an instant access savings account. We'll contact you before your Fixed Rate Branch Bond matures with more information.


Additional information

Interest rate terms 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 a year is the interest rate without tax deducted.
  • Funding window is 14 days from the day that the account is opened, which you will be able to add money into the account.

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 hmrc.gov.uk (opens in a new window). 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 came into effect on 24 October 2024.


Note:

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.

Other important information

Savings and ISA help

Useful guides to help you manage your account and understand the different ways to save.


Protecting your money

The Financial Services Compensation Scheme (opens in a new window) (FSCS) is a free, independent service that protects up to £85,000 of your eligible money at Nationwide.