Nationwide Building Society is launching a new savings account paying one of the top rates in the market, available exclusively for current account members looking to put money away regularly.
Flex Regular Saver will be launched on Wednesday 24 November and will be available for a limited time only. The account forms part of Nationwide’s efforts to reward current account members, while also helping people maintain a regular savings habit.
The account can be managed online and is a limited access, regular saver paying a competitive 2% AER/gross p.a. (variable) for 12 months, after which it will revert to an instant access account.
Members are able to save up to £200 per calendar month and are allowed up to three withdrawals within the 12 months after the account opening1. It can be opened via Nationwide’s website and by using the Internet Bank or Mobile Banking app.
Flex Regular Saver is only available to members who hold one of the Society’s current accounts (FlexPlus, FlexDirect, FlexAccount, FlexStudent, FlexGraduate, FlexBasic or FlexOne2). Members are only able to open one Flex Regular Saver – either as an individual or a joint account.
Those who don’t currently have a current account with the Society can open one in order to be eligible for Flex Regular Saver. The Society is currently offering a £125 switching incentive3 for existing members (£100 for new customers) who switch into either a FlexDirect, FlexAccount or FlexPlus account using the Current Account Switch Service.
Tom Riley, Director of Banking and Savings at Nationwide Building Society, said: “In the current environment having a savings nest egg to fall back on is more important than ever, so as the UK’s biggest building society we do all we can to help and encourage people to save on a regular basis. By rewarding our current account members, Flex Regular Saver is a further demonstration of the benefits of having a current account with Nationwide. However, it is only available for a limited time, so I’d encourage members to act early to benefit from one of the most competitive savings accounts in the market.”