MoneyNationwideYou could see a big change in your interest rate with NationwideNicholas Dawson11:05, 28 May 2026Nationwide Building Society has provided an update regarding changes to its interest rates impacting certain customers. The announcement followed an enquiry from a customer concerning their savings account.‌The customer enquired via social media: "When a fixed rate bond has matured and if it is left to turn into an instant access maturity bond account, can I then just add money to it and treat it like a normal savings account?"‌Nationwide provides a Fixed Rate Online Bond where you can benefit from a fixed interest rate throughout the account period. You can presently select from a 1, 2, 3 or 5-year fixed term. The interest rate for the bonds stands at 4 per cent and is the same across all account terms.‌After the account has matured, the funds are transferred into an instant access account. Information on the Nationwide website states: "At the end of the term, we will move your money to an instant access savings account.State Pensioners to face major tax change"We will let you know before this happens and what your interest rate will be." Responding to the customer, Nationwide confirmed that the instant access account could be used just like a standard savings account.‌The building society clarified: "Yes, that is correct. If your money is in an instant access account, you can add and withdraw money as you like."Interest rate cutIt's certainly worth noting in your diary when your bond matures, as it could result in a considerable reduction in the interest rate applied to your savings. At the time of writing, Nationwide's Instant Access Saver offers a mere 1.1 per cent on deposits up to £10,000.This would represent a 3.9 percentage point fall in your rate should your savings held in an online bond be transferred to this account. Slightly better rates are available for deposits exceeding £10,000 in the instant access saver, however the maximum rate on offer is just 1.2%.‌This is well short of some of the best-paying savings accounts currently available. Nationwide current account holders can also opt for the Flex Instant Saver, which pays 2.3 per cent variable.The account runs for a one-year term, with interest paid upon completion of the term. Millions of Nationwide customers will soon find a bonus payment credited to their accounts.The savings giant is rolling out another round of its Fairer Share payment, with a £100 payment heading to more than four million members. This bonus payment scheme sees Nationwide distribute its profits amongst its members.Article continues belowFull eligibility criteria can be found on the Nationwide website.Choose Daily Mirror as a 'Preferred Source' on Google News for quick access to the news you value.‌NationwideNationwide Building SocietyCurrent accountsInterest ratesSavings