1 Year Saver
Earn a fixed rate of interest if you’re able to put away your money for 1 year
Earn 0.80% AER/gross p.a. (fixed)
Interest will be added to your balance when the fixed term ends and your account matures.
Make a single deposit between £5,000 and £10 million
No further deposits are allowed during the fixed rate period.
No withdrawals during the fixed rate period
You'll receive an options form on maturity to choose what you wish to do with your business savings.
No fees and charges
There are no fees and charges for any of our business savings accounts.
|Account name||Business 1 Year Saver - Issue 13|
|What is the interest rate?||Term||Interest rate
AER/gross p.a. (fixed)
|Interest is calculated daily and will be added to the balance and paid upon maturity of the account.|
|Can Nationwide change the interest rate?||No, the interest rate on this account is fixed for the term and cannot be changed.|
|What would the estimated balance be at the end of the fixed term based on a £10,000 deposit?||This shows the balance on an initial deposit of £10,000 for the fixed term of the product.|
|Term||Interest rate AER/gross p.a. (fixed)||Balance at end of term with interest|
|This projection is provided for illustrative purposes only, it assumes that:
|How do I open and manage my account?||To open this account you must be a:|
a) Privately or publicly owned limited company incorporated in the UK;
b) Charity registered in the UK;
c) Unincorporated body (e.g. Club, Parish Council) based in the UK;
d) UK sole trader/partnership.
You can open this account:
You can manage your account:
|Can I withdraw money?||No, withdrawals and further deposits are not allowed for the duration of the term of the account.
What happens on maturity of the account?
You will receive an options form to provide instruction of what you wish to do upon maturity (withdraw to your nominated account or save in another Business Saver account).
If we don’t hear from you when your Business Saver Fixed Rate account matures your account will be moved into a Maturity Reserve Account until we receive your instruction. We will contact you with more information before your account matures.
Interest rate definitions explained
The interest rate(s) is/are effective from 07 December 2018 and the other information in the Summary Box is effective from 21 June 2018.
This summary box sets out the key features of the savings account. For full details, please read the account terms and conditions.
Before you apply, please make sure you read the Summary box and the Business Savings General Terms and Conditions and Business 1 Year Saver Account Specific Terms in full and print or save a copy of the PDFs below for future reference.
Other important information
Business Savings General Terms
FSCS - Protecting your money
Your eligible deposits with Nationwide Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered.