‘Limited time only!’: Nationwide launches savings account with 2% interest rate

This makes it one of the most competitive savings offerings on the market, however Nationwide wants people to know its only available for a “limited time”. According to the building society, it is available exclusively for current account members who are looking to put away money on a regular basic. Nationwide’s Flex Regular Saver initially launched on November 24, 2021 to the financial institution’s customers.

The Flex Regular Saver is part of the building society’s promise to reward account holders for their deduction to Nationwide.

However, it has also been designed to encourage those same customers to maintain regular and healthy savings habits.

An account can be managed by customers either online though the building society’s or through Nationwide’s mobile app.

It pays a two percent AER/gross p.a. for a 12-month, after which point will change into an instant access account.

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Customers of Nationwide can save up to £200 per calendar month and are allowed up to three withdrawals within the year-long window after the account opens.

However, the Flex Regular Saver is only accessible to the building society’s customers who hold one of the Society’s current accounts.

These accounts include: the FlexPlus, the FlexDirect, the FlexAccount, the FlexStudent, the FlexGraduate, the FlexBasic or the FlexOne accounts.

Any customers are only allowed to open up one Flex Regular Saver, either as an individual or joint account.

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Tom Riley, the Director of banking and savings at Nationwide Building Society, explained why the building society has decided to offer this latest savings product for its customers.

Mr Riley 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.”