What is the interest rate and is it fixed?

Annual interest is fixed at 0.30% and is gross p.a./AER* until 31st May 2022.

Will I be taxed on the interest?

We will pay your interest without tax taken off. It is your responsibility to declare any interest you earn over your Personal Savings Allowance directly to HMRC. Your tax treatment will depend on your individual circumstances and may be subject to change in the future, for further information please contact HMRC.

Is there a bonus on this account?

No, there is no bonus payable on this account.

Can I withdraw money?

Withdrawals aren't allowed until the account matures on 31st May 2022.

How can I open an account with The Nottingham?

To open a Fixed Rate Issue 201 call your local branch and speak to an adviser. All our branches are Covid-safe and practice safe social distancing with staff and members required to wear face masks. Our advisers will be able to discuss any concerns you may have.

Additional information

There are other savings accounts available with The Nottingham and other banks and building societies. Subject to withdrawal conditions you can switch accounts at any point.

Key product information

To find out more download our key product information guide.

Fixed rate savings account - open with £500

With a minimum of £500 you can open a Fixed Rate Issue 201. If you can put your money away until 31st May 2022 we'll pay you a fixed** rate of interest at 0.30% gross p.a./AER*. This is a limited issue account which could be withdrawn at any time. Find out more about the account below.

Account details

Branch only savings offer
Limited issue – may be withdrawn at anytime
A fixed** return on your investment
£500 required to open an account

Summary table

Account name	Fixed Rate Issue 201.
What is the interest rate and is it fixed?	*Annual interest is fixed at 0.30% and is gross p.a./AER until 31^st May 2022.**
Will I be taxed on the interest?	We will pay your interest without tax taken off. It is your responsibility to declare any interest you earn over your Personal Savings Allowance directly to HMRC. Your tax treatment will depend on your individual circumstances and may be subject to change in the future, for further information please contact HMRC.
Is there a bonus on this account?	No, there is no bonus payable on this account.
Can I withdraw money?	Withdrawals aren't allowed until the account matures on 31^st May 2022.
How can I open an account with The Nottingham?	To open a Fixed Rate Issue 201 call your local branch and speak to an adviser. All our branches are Covid-safe and practice safe social distancing with staff and members required to wear face masks. Our advisers will be able to discuss any concerns you may have.
Additional information	There are other savings accounts available with The Nottingham and other banks and building societies. Subject to withdrawal conditions you can switch accounts at any point.
Key product information	To find out more download our key product information guide.

Want to discuss one of our savings products?

Visit a branch or call our customer service team to find out more about our accounts

Your savings are protected

Your eligible deposits with Nottingham Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme.

Are you missing out on up to £1,000 a year?

If you're aged between 18-39 you could earn up to £1,000 per year in free cash from the Government (until your 50th birthday) to put towards your first home or retirement. For every £4 you invest, you will receive a £1 bonus

Find out more about our Lifetime ISA

Opening an account

In order to open a Fixed Rate Issue 201 you must:

Be a UK resident
Have a minimum deposit of £500
Meet our ID requirements.

There are no age restrictions - accounts for individuals under the age of 7 must be held in trust.

Managing your account

Find out more about the process of managing your account below.

Paying money in

You’ll need at least £500 to open your account initially and you can invest up to £750,000 whilst the account is still available.

Fixed rate accounts are only available for a limited period and once the account is withdrawn you won't be able to pay any more into your account.

Taking money out

With a Fixed Rate Issue 201 you cannot withdraw any money from the account until it matures on 31^st May 2022 - please consider this before opening an account.

What happens when the term ends?

Shortly before your account matures we will write to you with details of a replacement product. If we do not hear from you, we will transfer your balance to an account called Branch Instant Issue 2, or an alternative account we consider appropriate at the time. The Branch Instant Issue 2 is an easy access account so you have instant access to your savings whenever you need it.

When will my interest be paid?

Your annual gross interest will be paid on 31^st May every year until the account matures in 2022. It can be paid into your account, into another account with The Nottingham or to another bank or building society account.

Saving Calculator

Use our savings calculator to find out how your savings might grow over the months.

Current interest rates from 22 Feb 2021

Balance	Gross p.a./AER*
£500 - £750,000	0.30%

How do I open an account?

To open one of our savings accounts call your local branch to speak to an adviser. They'll talk you through the process of opening a branch based account.

Find your nearest branch

Types of savings accounts

With so many different types of savings accounts, it can be difficult finding the right one for you. Our savings guide explains the different accounts.

Find out more

Savings FAQs

Scratching your head about savings? Take a look at questions that our members frequently ask us, which you might also find helpful.