Nationwide has launched a savings account exclusively for members with a 5% interest rate. Members of either Nationwide or Virgin Money (which was absorbed into the building society this year) with a qualifying account may be eligible for the Member Exclusive Online Bond.
To become a member you have to bank, save, or have a mortgage with Nationwide. The account has an interest rate of 5% AER/gross a year (fixed), the high street giant’s best fixed savings rate. Nationwide says with the account, those who deposit £1,000, will be paid £63.13 in interest at the end of the 15-month term. The figure is based on the rate and if you fund the account on the day you open your bond. The interest rate doesn’t change over the 15 month period, with interest paid annually and at the end of term, the banking provider says on its website.
Savers can lock away as much as £10,000 for 15 months with no early withdrawals once the bond is open.
However, this money must be transferred during the first 14 days from when the bond was opened. When the 15-month term is over, Nationwide will move the money money to an instant access savings account, notifying the customer before it happens and informing them what their interest rate will be.
The bond can be opened either as a sole account or a joint account with someone else, though various eligibility criteria apply.
This includes being:
- a UK resident
- 16 or over
- having an email address
- having had a qualifying Nationwide or Virgin Money account since at least May 20 this year (2026)
You also can’t get one of the accounts in trust for the benefit of another person, and you’re only able to hold one of this year’s Member Exclusive Bonds.
However, you may still qualify for this year’s offering if you hold a Member Exclusive Bond 2025.
You must also have any of the following Nationwide or Virgin Money accounts:
- personal current account
- mortgage
- savings account
- business savings account or business loan secured against land as a sole trader, partnership or unincorporated body, such as a club or voluntary group
If you qualify through a business savings account or business loan secured against land, the bond can only be opened in your own name and for personal use.
Some accounts do not qualify. These include:
- personal loans, credit cards, investments and insurance policies
- business current accounts and business savings accounts or business loans secured against land as a limited liability partnership, partnership with a body corporate as a partner, or company or incorporated body (which can include some charities)
- products from Nationwide subsidiaries, like The Mortgage Works
You can find out more on Nationwide’s website.