Nationwide 5.5% (FIXED) Member Bond

aroominyork

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 matures on 21 Dec. They emailed on 21 Nov that it'll become an instant access account paying just over 1%.

slinger2

Mine matures tomorrow. Nothing to tempt me at Nationwide so it'll be quickly moved out. I've got EA accounts at Cahoot, Skipton and Zopa paying 4.75%+ waiting to be topped up while I think what to do with it.

Hattie627

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 on 23rd or 24th November into a maturity account (can't recall the precise name of the maturity product). I moved the funds out on the day of maturity via my Nationwide current account. I gave instructions online (or by app) to close the empty maturity account which was done the same day. I received by post a closing statement yesterday.

ColdIron

Presumably you availed yourself of the Member Exclusive at 5.00% for 18 months at the end of May 2025

poppystar

Mine matured at the weekend. I have a reward saver with them so quickly moved it into there out of the 1.15% account, quick and painless. It’ll be sent into a higher paying account as soon as I get a moment. I found the warning email that it was about to mature quite strange  - logged in as suggested but there were no maturity options as you might get with other providers so really nothing could be set up in advance. 

Yorkie1

Got an email yesterday. It said this:

"On 28 December 2025, your 5.50% 18m MemberExc FROB will end. Your savings will then move into a Fixed Term Online Bond Maturity Account where they will stay until you decide what to do next. Although you can’t access your savings until 28 December 2025, it might be a good idea to think ahead and plan what you’ll do with your money.

"From 28 December 2025, you’ll have these options

- Reinvest in another bond with us.

- Choose to save into a different type of savings account with us.

- Take out your savings if you want to go with another provider or have other plans for them.

About the Fixed Term Online Bond Maturity Account

This is designed to be a short-term place for your money, while you decide what to do with it. You can access this account as often as you like, without any withdrawal fees. Please note this account comes with a lower interest rate than a fixed rate online bond. Link to summary of the bond.

What happens next

Between now and your Bond’s end date on 28 December 202, you might find it helpful to take a look at our current range of savings accounts. Or you can call into one of our branches.

We will email you again on 28 December 2025 to help guide you through the options you can take."

The interest rates for the Maturity bond (it's not a fixed term bond - you can add and withdraw as you desire) are 1.1% for deposits under £10K. 1.15% for £10K - £49,999. 1.35% for £50K+. Their current online bonds are 3.8% for each of them (1, 2, 3 and 5 year).

So, as said above, you would probably want to move the funds elsewhere.

Hattie627

ColdIron said:

Presumably you availed yourself of the Member Exclusive at 5.00% for 18 months at the end of May 2025

I have this, due to mature November 2026. Hopefully there will be another Member Exclusive 18 month bond launched in May 2026 although probably not at 5%.

allegro120

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 11 days ago.  The account morphs into Fixed Term Online Bond paying 1.15%, I withdrew the balance. Nationwide doesn't offer any decent replacement for this bond.

refluxer

allegro120 said:

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 11 days ago.  The account morphs into Fixed Term Online Bond paying 1.15%, I withdrew the balance. Nationwide doesn't offer any decent replacement for this bond.

It's probably important not to forget the 'Mat' at the end of 'Fixed Term Online Bond (Mat)', just in case anyone might mistakenly think that it defaults to another fixed rate bond, rather than the Instant Access Saver that that online banking label (confusingly !) refers to

SH88SH88

Mine matures tomorrow. I'd almost totally forgotten about it, probably because 18 months is a quite weird term length. Begs the question,  what to do with the approx £10K  ? ... any suggestions ?