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.

How to apply

First, check you meet the eligibility criteria on our faqs.

You can apply for one of our business savings accounts by completing our online application form.

We've listed all the information that you'll need to provide in this printable checklist.

For more help on how to open your account, please visit our opening an account page.

Summary box
Account name Business 1 Year Saver - Issue 13
What is the interest rate? Term Interest rate
AER/gross p.a. (fixed)
1 Year 0.80%
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
1 Year 0.80% £10,080.00
This projection is provided for illustrative purposes only, it assumes that:
  • Interest is paid into the account, and
  • The account is not closed during the fixed term.
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.
  • Employ up to 250 employees.
  • Have an annual turnover or assets of up to £45 million.
  • Are not listed under our ineligible companies found on our faqs.
NB. You will need to set up an existing UK based business account as your nominated account. This account must be in the name of your business and able to receive CHAPS payments. Please see section B of the Business Savings General Terms and Conditions for further details.

You can open this account:
  • Online by visiting our business savings accounts page.
  • By requesting an application to be sent via post or email using the contact details via the above website.
  • You'll need at least £5,000 to open your account.
  • You can open several Business Saver Fixed Rate Accounts as long as the balance in this account does not exceed £10,000,000.
Please note: This is a lump sum account so you can’t add more money to the account once your initial deposit has been received and the term has started.

You can manage your account:
  • By Post, Fax or signed PDF instruction attached to an email.
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.
Additional information 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 tax information provided is based on our understanding of current law and HM Revenue & Customs practice, both of which may change.

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.
Download our Business Saver Fixed Rate accounts summary box

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.

Apply online for a Business Savings account

Important documents

Other important information

Summary box

Business Savings General Terms
and Conditions

Business Savings historic rates

Business Savings historic summary boxes

Use of information statement