I Just Found Out How Nationwide Customers Can Pocket £759 (And I'm Slightly Annoyed I Almost Missed It)

By HOAR Team 7 June, 2025 5 mins read 150 Views

My mate Sarah texted me yesterday: "Did you see that Nationwide thing?" I hadn't. Turns out she was talking about their new Member Exclusive Bond that could net you up to £759 if you play it right.

Here's the deal - and honestly, it's pretty decent for 2025.

Nationwide just launched this 18-month fixed bond exclusively for existing members. The rate? A solid 5%. Not earth-shattering, but in today's market where most banks are slashing rates left and right, it's actually quite good.

You can stick anywhere from £1 to £10,000 into this thing. Max it out at ten grand, and you'll walk away with £759 extra after 18 months. I did the maths twice because I'm paranoid like that.

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But There's Always a Catch, Isn't There?

First off, you need to already be a Nationwide member. Bank account, savings, mortgage - any of those count. You also need to be 16 or older (obviously), registered for internet banking, and have a working email address.

The annoying bit? Once you start opening the account, you've got exactly two weeks to fund it. Miss that deadline and they'll close it on you. Bit harsh, but there you go.

Oh, and like most fixed accounts, your money's locked away for the full 18 months. No early withdrawals, no "I changed my mind" - you're committed.

How Does This Stack Up Against Everything Else?

I checked Moneyfactscompare.co.uk (because I'm that person), and the best one-year fixed bonds are sitting around 4.45%. So Nationwide's 5% for 18 months is genuinely competitive.

The interest gets paid annually on your opening date. Open it tomorrow, and you'll see your payout on June 8th, 2026. Mark your calendar.

You do get a two-week cooling-off period if you have second thoughts, which is something I suppose.

Fixed Accounts: Worth the Hassle?

Look, fixed-term accounts aren't for everyone.

They're basically financial jail - your money goes in, rate stays the same, money comes out at the end. No flexibility. But the trade-off is usually better rates than easy-access accounts.

If you know you won't need that cash for 18 months and want guaranteed returns, it makes sense. If you might need emergency access to your savings... maybe not so much.

Easy-access accounts give you flexibility but typically lower rates. ISAs let you save £20,000 tax-free per year. Stocks and shares ISAs add investment risk but potential for higher returns. It's the usual menu of options.

What Else Is Out There Right Now

Since I was already researching (and procrastinating on actual work), here's what caught my eye:

Plum's Cash ISA is paying 4.85% right now, but that includes a 12-month bonus. After year one, that rate drops like a stone, so you'd need to switch. They also penalize you for more than three withdrawals per year.

Chip's Cash ISA offers 4.82% with unlimited penalty-free withdrawals, which is more flexible.

If you've got more than £20,000 to stash away, Atom Bank's easy-access account pays 4.75%. Just don't withdraw anything if you want to keep that rate.

For fixed accounts, Cynergy Bank tops the one-year charts at 4.4% (minimum £1,000). Birmingham Bank edges slightly higher for two-year fixes at 4.43%, but you'll need £5,000 to get started.

The rates aren't spectacular compared to a few years back, but they're not terrible either. Just remember - in this game, timing matters, and the best deals don't hang around forever.

Frequently Asked Questions

How can I improve my credit score?

To improve your credit score, make timely payments on all debts, reduce credit card balances, avoid opening unnecessary credit accounts, and regularly check your credit report for errors, disputing any inaccuracies. Maintaining a mix of credit types and keeping old accounts open can also be beneficial.

What are the risks associated with investing in the stock market?

Investing in the stock market involves several risks, including market volatility, economic downturns, and company-specific factors that can lead to losses. Investors may also face liquidity risk, where they cannot sell an investment quickly without incurring a loss. Diversification and thorough research can help mitigate these risks.

What are the benefits of having an emergency fund?

An emergency fund provides financial security by offering a safety net for unexpected expenses, such as medical emergencies or job loss. It helps prevent debt accumulation, reduces stress, and allows for better financial planning, ensuring that individuals can navigate unforeseen circumstances without significant hardship.

How does inflation affect the value of money?

Inflation refers to the general rise in prices over time, which erodes the purchasing power of money. As inflation increases, each unit of currency buys fewer goods and services, meaning that the value of money decreases in terms of what it can purchase.

What are credit scores and why are they important?

Credit scores are numerical representations of an individual's creditworthiness, calculated based on credit history, payment behavior, and debt levels. They are important because they impact the ability to obtain loans, credit cards, and favorable interest rates, affecting overall financial health.

What is the difference between saving and investing?

Saving typically involves setting aside money in a secure account for short-term needs or emergencies, while investing involves using money to purchase assets like stocks or real estate with the expectation of generating a return over the long term. Investing carries higher risks but offers the potential for greater rewards.

What is a budget deficit?

A budget deficit occurs when a government's expenditures exceed its revenues over a specific period, usually a fiscal year. This can lead to increased borrowing and national debt if not addressed through spending cuts or revenue increases.

Statistics

In 2020, the average retirement savings for Americans aged 60 to 69 was approximately $195,000, according to Fidelity.
According to a survey by the Financial Industry Regulatory Authority (FINRA), about 66% of Americans could not correctly answer four basic financial literacy questions.
As of 2021, the average student loan debt for recent graduates was approximately $30,000, according to the Federal Reserve.
According to the Bureau of Labor Statistics, the average American spends about $1,500 per year on coffee.
The average cost of raising a child in the U.S. is estimated to be around $233,610, according to the U.S. Department of Agriculture.
A report by Bankrate indicated that only 29% of Americans have a written financial plan.
As of 2021, the median household income in the U.S. was approximately $67,521, according to the U.S. Census Bureau.
As of 2021, the average American household had approximately $8,400 in credit card debt, according to Experian.

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How To

How To Develop a Good Saving Habit

Developing a good saving habit begins with setting clear financial goals. Determine what you are saving for, whether it’s an emergency fund, a vacation, or retirement. Start by automating your savings; set up a direct deposit from your paycheck into a savings account. Aim to save at least 20% of your income, gradually increasing this amount as you become comfortable. Track your spending to identify areas where you can cut back and redirect those funds to your savings. Regularly review your savings progress and adjust your contributions as necessary to stay motivated and achieve your goals.