Nationwide launches a market-beating 5.3% savings bond for loyal members only, but savers must lock cash away for 30 months

Nationwide's new Member Exclusive Bond pays 5.30% AER over 30 months — beating the best two-year and three-year fixed rates on the market — and is open only to existing Nationwide and Virgin Money members. Savers can deposit between £1 and £10,000, and a full £10,000 would earn £1,381.92 in interest over the term. The bond must be opened within 14 days of application and cannot receive top-ups once funded.

Research by Nationwide found that 73% of savers feel their loyalty has gone unrecognised, with 59% believing new customers receive preferential rates.

The deal beats rival offerings from Vida Savings (5.26% two-year) and Chetwood Bank (5.25% three-year), though GB Bank's five-year fix edges ahead at 5.37%.

Richard Stocker, Nationwide's head of savings, warned that the offer could be withdrawn without notice and encouraged eligible members to move quickly.