Nationwide 5.5% (FIXED) Member Bond

allegro120

Justin1963 said:

Does this Bond qualify for the Fairer Share loyalty payment (if they do it next year)?

If the conditions are the same as this year, this Bond will fulfil one of conditions.

Birdie6972

Ha ha ha ...... Nationwide's Member Bond -- £10K for 1 year at 5.5%  -- they've just paid my interest and it's £549.25  ...... where's my other 75p Nationwide??  Can't they do their maths??

ColdIron

Birdie6972 said:

Ha ha ha ...... Nationwide's Member Bond -- £10K for 1 year at 5.5%  -- they've just paid my interest and it's £549.25  ...... where's my other 75p Nationwide??  Can't they do their maths??

Did you perhaps pay in a day or two after opening the account?
I deposited on the same day I opened it and received £550
You are paid 12 months after opening the account but will not start to earn interest until your cash is deposited

slinger2

ColdIron said:

Birdie6972 said:

Ha ha ha ...... Nationwide's Member Bond -- £10K for 1 year at 5.5%  -- they've just paid my interest and it's £549.25  ...... where's my other 75p Nationwide??  Can't they do their maths??

Did you perhaps pay in a day or two after opening the account?
I deposited on the same day I opened it and received £550
You are paid 12 months after opening the account but will not start to earn interest until your cash is deposited

Me too. £550.00 credited yesterday, exactly a year after I funded it with the full £10k.

What's a bit odd is that a day's interest on £10k is £1.50, so 75p is half a day. It would make sense if they paid in £5k on the day it was opened and another £5k the day after.

Middle_of_the_Road

23/5/25   £547.74 interest 

24/5/24 5,000 deposit 
25/5/24 5,000 deposit 

slinger2

Middle_of_the_Road said:

23/5/25   £547.74 interest 

24/5/24 5,000 deposit 
25/5/24 5,000 deposit 

Yes, You "lost" 75p by depositing £5k a day late and another £1.50 by depositing the other £5k two days late. Total £550-£2.25 leaves 547.75. 1p out on the rounding.

Middle_of_the_Road

slinger2 said:

Middle_of_the_Road said:

23/5/25   £547.74 interest 

24/5/24 5,000 deposit 
25/5/24 5,000 deposit 

Yes, You "lost" 75p by depositing £5k a day late and another £1.50 by depositing the other £5k two days late. Total £550-£2.25 leaves 547.75. 1p out on the rounding.

Not lost £2.25 net though ,with interest gained in the feeder account.

slinger2

Middle_of_the_Road said:

slinger2 said:

Middle_of_the_Road said:

23/5/25   £547.74 interest 

24/5/24 5,000 deposit 
25/5/24 5,000 deposit 

Yes, You "lost" 75p by depositing £5k a day late and another £1.50 by depositing the other £5k two days late. Total £550-£2.25 leaves 547.75. 1p out on the rounding.

Not lost £2.25 net though ,with interest gained in the feeder account.

And when yours matures on 23 Nov (I assume) you'll get interest on a further 184 days, while mine will mature on 4 Dec, that's only 183 extra days. So you'll get an extra £1.60 interest then compared to me.

Not sure what happens to someone who opened it on 31 May. 6 months from then is ...

Kim_13

Anyone received a maturity pack for this? From looking on their website the default appears to be an access account, so I guess its absence doesn’t matter.

refluxer

Kim_13 said:

Anyone received a maturity pack for this? From looking on their website the default appears to be an access account, so I guess its absence doesn’t matter.

Mine matured a couple of weeks ago and there weren't any further exclusive bonds or other good options on offer, unfortunately.