Fixed term deposit accounts
Earn our highest amount of business savings interest if you’re able to put away your money for 6 months or 1 year
Our Business Fixed Rate Saver accounts are for businesses and organisations that:
- employ up to 250 people
- have a turnover or assets of up to £45 million
For more details on eligibility click here.
With our Business Fixed Rate Saver account, you can:
- earn up to 0.55% gross p.a/AER (variable)
- choose from a 6 month or 1 year term
- make a single deposit of between £10,000 and £10 million - no withdrawals or early closure is allowed during the fixed rate period
- earn interest, which will be added to your balance when the fixed term ends and your account matures
- manage your account by post, fax or a signed PDF instruction attached to an email
For help on how to use your account, please visit our Using your account page.
Interest rates for our Business Fixed Rate Saver account
Business 6 month Fixed Rate Saver
Business 1 year Fixed Rate Saver
0.55% gross p.a.
0.65% gross p.a.
Effective from 7 December 2016
Rates are variable. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Gross p.a. is the interest rate without tax deducted. Interest is paid when the fixed term ends and your account matures.
This summary box sets out the key features of the savings account. For full details, please read our Standard Terms and Conditions before you apply.
|Account name||Business Saver Fixed Rate Accounts|
|What is the interest rate?||Term||Interest rate
gross p.a./AER (fixed)
|6 Month Saver||0.55%|
|1 Year Saver||0.65%|
|Interest is calculated daily and will be added to the balance and paid upon maturity of the account.|
|Can Nationwide change the interest rate?||No, the interest rate on this account is fixed for the term and cannot be changed.|
|What would the estimated balance be at the end of the fixed term based on a £10,000 deposit?||This shows the balance on an initial deposit of £10,000 for the fixed term of the product on either 6 months or 1 year as selected.|
|Term||Interest rate gross p.a./AER (fixed)||Balance at end of term with interest|
|6 Month Saver||0.55%||£10,028|
|1 Year Saver||0.65%||£10,065|
|This projection is provided for illustrative purposes only, it assumes that:
|How do I open and manage my account?||To open this account you must be a:|
a) Privately or publicly owned limited company incorporated in the UK;
b) Charity registered in the UK;
c) Unincorporated body (e.g. Club, Parish Council) based in the UK;
d) UK sole trader/partnership; or an
e) Personal and corporate trustees of express trusts created in the UK.
You can open this account:
You can manage your account:
|Can I withdraw money?||No, withdrawals and further deposits are not allowed for the duration of the term of the account.
What happens on maturity of the account?
You will receive an options form to provide instruction of what you wish to do upon maturity (withdraw to your nominated account or save in another Business Saver account).
If we don’t hear from you when your Business Saver Fixed Rate account matures your account will be moved into a Maturity Reserve Account until we receive your instruction. We will contact you with more information before your account matures.
Interest rate definitions explained
The interest rates and information in this summary box are correct as at 02 November 2016.
FSCS - Protecting your money
Your eligible deposits with Nationwide Building Society are protected up to a total of £75,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. This limit is applied to the total of any deposits you have with the following: Nationwide Building Society and Nationwide UK (Ireland). Any total deposits you hold above the limit between these brands are unlikely to be covered.
If you'd like to view rates for older products, please visit our Business Savings Historic Rates page.
If you'd like to view the summary for older products, please visit our Business Savings Historic Summary Boxes page.
If you’re an existing customer please visit our Business Savings Terms and Conditions page to view the Terms and Conditions for your existing product.
For details on how we use your information, please read our Use of information statement.