Nationwide fixed rate bond features:
- Bonds available from 6 months to 5 years
- Fixed interest rates for the term of the bond
- Choice of Interest being paid monthly or annually
- You cannot make any withdrawals or additional deposits once the account is opened
- Minimum deposit of £1
- Maximum deposit of £5,000,000
- Choice of opening an online ‘E-bond’ or an in-branch bond
- You are allowed to have multiple bonds as long as the combined total does not exceed £5,000,000
See if the features of Nationwide fixed rate bonds can offer you the best deal by comparing them with those of other leading providers using our online comparison service – it's easy to use.
As fixed rate bonds require you to lock away your savings away, without access to them before you take one out it is worth shopping around and considering other plans before hand to try and ensure you are getting the right choice for you.
Other types of plan you may wish to think about
- Tracker bonds – A slightly different type of bond. Whereas with a fixed rate of bond you know exactly how much interest you are going to be paid throughout the term, tracker bonds interest rate may get better or worse over the course of it. This is because the interest rate you receive is linked to the Base Rate set by The Bank of England. This means you may receive or less in interest payments at the end, depending on what happened to the base rate over the length of time your bond lasted.
- Structured Deposits – Structured deposits normally offer higher potential interest rates than bonds, but you are not guaranteed to receive any interest payments, there is a risk you will only get your original deposit back at the end of the term. This is because structured deposits are normally linked to a share index or indices, like the FTSE 100. Getting an interest payment from this type of plan depends on if the index the plan is tied to perform in the way set out in the structure deposit. Because you risk earning no interest with this type of plan you should carefully evaluate if it is right for you before you take one out.
- Savings Account – If you are looking into how you can earn interest on your savings but still also maintain access to them should you ever need them then an instant access savings account may be the solution to you. Although they do normally offer lower interest rates than bonds or structured deposits, they tend to offer unlimited free withdrawals meaning if you should ever need your savings you don’t need to worry about any forfeit for closing the account early.