Member Rewards Bond Issue 2

We're committed to helping you save money and that's why we've launched our Member Rewards Bond Issue 2, an exclusive account for members. Only qualifying members can benefit from this branch-based fixed-rate savings account. To qualify as a member you need to have a balance of at least £500 and have either held one of our savings accounts for at least 12 months or currently have a Nottingham Building Society mortgage.

If you can put your money away until 31 January 2020 and resist the urge to dip into the account we'll pay you a fixed** rate of interest at 1.40% gross p.a./AER*. 

Account details

  • Exclusive account for qualifying members

  • Branch only savings offer

  • Limited issue - may be withdrawn at any time

  • A fixed** return on your investment

  • £1,000 required to open an account

Summary table

Account name

Member Rewards Bond Issue 2

Interest rates (AERs)

1.40% gross rate p.a./AER* until 31 January 2020

Tax status

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

Conditions for bonus payments

No bonus payable

Withdrawal arrangements

No withdrawals allowed



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

Download key product information

Want to discuss one of our savings products?

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  • Rates & account details
  • Managing your account
  • Opening an account

Your interest

We will pay your interest on 31 January each year. We can pay it straight into your Member Rewards Bond, into another account with The Nottingham or into another bank or building society account. Just let us know on your application form what you’d prefer us to do.

Every year we’ll send you a statement telling you how much interest you’ve earned.

Paying money in

The minimum amount to open an account is £1,000. 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Fixed rate accounts are only available for a limited period and once the account is withdrawn you won't be able to pay any more into your account.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

As you won't be able to take any of your money out of the account until it matures on 31 January 2020, please make sure you won't need access to it before then.

What happens when the term ends?

Shortly before your account matures we will write to you with details of a replacement product if they are available. If we do not hear from you, we will transfer your balance to an account called Branch Instant, or an alternative account we consider appropriate at the time.

How to open

To open an account you must:

  • Be a qualifying member
  • Be over the age of 16
  • Be a UK resident
  • Have £1,000 to open the account
  • Meet our ID requirements
Call your local branch and speak to one of our advisers and find out how you could benefit from a savings account.

Exclusive rewards for members

It's better to be a member - We're committed to helping you save money, buy your own homes and plan for a more secure financial future - whatever challenges life throws. That's why we've launched Membership Adds Up, a range of exclusive rewards for members, to help make life a little simpler and a bit more secure for you.

Current interest rates from 9 Oct 2017

Balance Gross rate / AER* Net rate+
£1,000 - £750,000 1.40% 1.12%

*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. AER stands for Annual Equivalent Rate. It shows what the interest rate would be if the interest was re-invested in the account each year. Interest rates are variable unless otherwise stated.

**There’s no guarantee that the current difference between our fixed rates and general rates will continue. General interest rates may fall below or rise above the fixed rate.

+The net rate(s) shown assume(s) income tax at the lower rate of 20% has been taken off.

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