What is the Nationwide Building Society e-Saver Plus Savings Account?

The Nationwide Building Society e-Savings Plus Savings Account is basically an internet operated instant or easy access savings account. To be able to open this savings accounts you need to have a Nationwide Flex account and then you can open the savings account with a minimum deposit of £1 with a maximum of £3,000,000. Because this savings account is an instant access internet based savings account you have access to to your money for both transfers and withdrawals 24 hours per day. The interest rate depends on the amount of withdrawals you make from the Nationwide e-savings plus account each year and is currently 2.00% for 3 or less although if you make 4 or more the interest rate drops to 0.10% so the savings account is not suitable for those looking to use it a lot. The e-savings plus instant access savings account comes with a guarantee from Nationwide Building Society that the interest rate provided you make less than 3 withdrawals a year will be a minimum of 0.75% over the Bank of England base rate until 01/01/2010 and 0.25% until 01/01/2011. All funds being added to the e-Savings Plus instant access savings account must come from a Nationwide Building Society Flex Account. If you are looking for a longer period of time to invest your savings Nationwide also offer a wide choice of fixed rate bonds.