Nationwide has said it is ‘delighted’ to be able to offer certain members the opportunity to receive up to £631 for free.
Part of the correspondence reads: “As a Nationwide member, we’re delighted to be able to offer you our best available fixed savings rate. Earn 5% AER/gross a year (fixed) for 15 months on balances up to £10,000 with our Member Exclusive Bond.”
Further details on the Nationwide website clarify that those who open this account can lock away up to £10,000 for 15 months.
Funds can only be deposited within the first 14 days of opening the bond, and the account can be held either solely or jointly.
Once the bond has been opened, no withdrawals will be permitted until the full 15-month period has elapsed.
However Nationwide confirms that by leaving your money untouched for this duration, you stand to earn a free £63.13 for every £1,000 saved – or £631.30 if you deposit the maximum £10,000.
Nationwide added: “At the end of the 15 month term, we will move your money to an instant access savings account. We will let you know before this happens and what your interest rate will be.”
To qualify for the account, you must be a UK resident aged 16 or over and have been a Nationwide member on May 20, 2026, remaining a member at the time of opening the bond.
Membership applies to anyone holding a mortgage, savings account, or personal current account with either Nationwide or Virgin Money.
You will also need to be registered for Nationwide internet banking and hold a valid email address.