Nationwide Building Society has contacted selected members about a new fixed-rate savings bond offering 5% AER over 15 months. Customers depositing the maximum £10,000 could earn £631.30 in interest if they leave the money untouched for the full term.
The offer is only available to members who already held qualifying Nationwide or Virgin Money products on May 20, 2026. According to the building society, customers must also remain members when opening the account.
Nationwide said this week that it had begun emailing eligible customers with details of what it described as its “best available fixed savings rate”. The account, called the Member Exclusive Bond, allows savers to lock away between £1 and £10,000 for a period of 15 months at a fixed annual rate of 5%.
The announcement comes as competition among banks and building societies for fixed-term savings customers continues to intensify. Fixed-rate products have become increasingly common in recent years as providers seek to attract deposits from customers looking for guaranteed returns.
Eligibility Rules Limit Access to Existing Nationwide Members
According to information published by Nationwide, the bond is not open to the wider public and can only be accessed by qualifying members who meet a series of conditions. Customers must be UK residents aged 16 or over and have been members of Nationwide on May 20, 2026.
The building society defines membership as holding a mortgage, savings account or personal current account with either Nationwide or Virgin Money. Customers are also required to have internet banking access and a valid email address.
Nationwide’s email to members stated: “As a Nationwide member, we’re delighted to be able to offer you our best available fixed savings rate.” The account may be opened as either a sole or joint bond. According to the details published on Nationwide’s website, deposits can only be made during the first 14 days after opening the account. After that period closes, no further payments are allowed.
The restrictions extend to withdrawals as well. Customers will not be permitted to access their money during the 15-month term. Nationwide said funds would automatically be transferred to an instant-access savings account once the bond matures, with customers notified beforehand about the applicable interest rate.
Savers Depositing £10,000 Could Earn £631.30 over 15 Months
Nationwide said savers who keep funds in the account for the full term would earn £63.13 in interest for every £1,000 deposited. Customers placing the maximum £10,000 into the bond would therefore receive £631.30 in total interest before tax.
According to the figures shared by the building society, the account pays a fixed rate of 5% AER/gross annually over the 15-month period. Because the rate is fixed, returns will not change during the term of the bond.
Nationwide has not indicated how long the Member Exclusive Bond will remain available. The building society’s published terms state only that qualifying customers must remain members at the point they open the account.
