Who can open a Nationwide 5 percent savings account?

Regarding interest rates for 18-month fixed rate bonds, Nationwide's recently launched fixed rate savings account is the market leader

Do you qualify?

Following the introduction of a new member-only bond by the building society, consumers nationwide can now earn five percent interest on their savings.

The deal, which enables Nationwide members to lock in an interest rate of 5% for 18 months, is among the best fixed savings accounts available at the moment.

According to the building society, 16 million customers can deposit up to £10,000 into their accounts and qualify for the savings rate.

The announcement of the fixed rate savings account coincided with Nationwide's announcement of their Fairer Share payment, which will see them award 100 to qualified clients for the third consecutive year.

The Member Exclusive Bond can be opened in-person or online by qualified Nationwide clients.

As a fixed rate savings account, there is no way to close the bond early and you cannot take your money out until the 18-month term is up.

Due to its high interest rate, the bond offers Nationwide customers the best fixed savings rate by far.

After 18 months, members who save the maximum of 10,000 would receive 762.50 in interest, which is more than 150 times what they would receive if they used Nationwide's next highest-rate bond, which is the 4 percent 1 Year Fixed Rate Bond.

Nationwide's member-only bond, which isn't available to everyone, is currently the best 18-month fixed rate bond available on the market because of its 5% interest rate.

Oxbury Bank's Personal 18 Month Bond Account (Issue 18) offers the second-highest interest rate for 18-month bonds, paying 4.45%, according to MoneyFactsCompare. With a minimum of £1,000 and a maximum of £500,000, the account can be opened online.

Additionally, Secure Trust Bank offers a competitive 18-month fixed rate bond (23), with an interest rate of 4 percent. Dec. 26. Online account opening allows customers to save anywhere from £1,000 to £1 million.

Does the Nationwide Member Exclusive Bond apply to me?

Nationwide states that in order to be eligible, a customer must have been a member on May 28, 2025, and continue to be a member at the time of bond application.

16 million of Nationwide's more than 17 million customers will be eligible for an 18-month cash savings of 5%, according to the building society.

You only need to have a current account, savings account, or mortgage with the building society to be eligible to become a Nationwide member.

If all you own are investments, credit cards, personal loans, or goods from Nationwide subsidiaries, you will not be eligible to be a member and will not be able to access the exclusive savings account.

Only as a sole proprietor, partnership, or unincorporated organization will you be eligible to be a member of Nationwide if you have a business savings account. You won't be a member if you own the business savings account as a trustee, charity, or corporation.