Eligibility for Nationwide's New 5% Savings Account Revealed
Nationwide Building Society Unveils New 5% Savings Bond for Eligible Members
Nationwide has launched a member-exclusive bond offering a competitive 5% interest rate for 18 months, making it one of the best fixed savings accounts available in the market currently. This offer is available to 16 million Nationwide customers, who can deposit up to £10,000 into the account.
The 5% fixed rate savings account was announced alongside Nationwide's 'Fairer Share' payment, which will provide £100 to eligible customers for the third consecutive year. Customers can open the Member Exclusive Bond either online or in a branch.
As a fixed-rate savings account, it is important to note that the money cannot be withdrawn until the 18-month term ends, and there is no option to close the bond early. The high-interest rate of 5% makes it the best fixed savings rate for Nationwide customers at the moment, although it is not available to everyone.
Members who save the maximum £10,000 would receive £762.50 in interest after 18 months, according to Nationwide. This is over £150 more than they would receive over the same period using Nationwide's next highest-rate bond (4% 1 Year Fixed Rate Bond).
Comparatively, Oxbury Bank's Personal 18 Month Bond Account (Issue 18) has a 4.45% interest rate, while Secure Trust Bank offers a 4.4% interest rate on their 18 Month Fixed Rate Bond. Both accounts can be opened with a minimum of £1,000.
To be eligible for the Nationwide Member Exclusive Bond, customers must have been a member with Nationwide by 28 May 2025 and remain a member when they apply for the bond. The majority of Nationwide's customers are eligible, as long as they have a current account, savings account, or mortgage with the building society.
Eligibility for the bond is not extended to those who only hold a personal loan, credit card, investments, or products from Nationwide's subsidiaries. Business savings account holders can qualify if they are a sole trader, partnership, or unincorporated body. However, if you hold the business savings account as a company, charity, or trustee, you will not be considered a member.
Customers can hold only one Member Exclusive Bond per person or joint account. The bond is not suitable for those who may need instant access to their savings, as there is no access to funds before the 18-month term ends. Moreover, it is not designed for regular deposits; a single deposit up to £10,000 is required.
This Member Exclusive Bond from Nationwide offers a personal-finance opportunity, with a 5% interest rate on savings, making it one of the highest fixed savings rates available currently. It's important to remember that this 5% fixed-rate savings account requires a one-time deposit up to £10,000 and does not allow early withdrawal for the 18-month term.
