Millions of Nationwide Building Society members are set to see their savings returns diminish next month following a significant announcement. The financial giant confirmed it will implement widespread interest rate reductions across a swathe of its accounts, effective from 10 February 2026.
What Changes Are Being Made?
The world's largest building society stated on Monday, 12 January 2026, that it is making "adjustments" to numerous accounts and products. This decision is a direct response to the Bank of England's 0.25% reduction in the base rate on 18 December 2025.
While Nationwide emphasised that most products will see rates fall by less than the full 0.25% Bank Rate decrease, many popular accounts are included in the cuts. The reductions will range between 0.10% and 0.25% on specific savings products.
In a partial offset, Nationwide will increase the rate on its five-year Fixed Rate Bond and ISA to 4%. The society also confirmed that several accounts will see no change at all, providing some relief for customers holding these products.
Accounts Unaffected by the Rate Cuts
The following Nationwide products will maintain their current interest rates:
- FlexOne Saver
- Flex Regular Saver
- Smart Instant Access & SmartSaver
- Smart Limited Access
- Start to Save products
Detailed Breakdown of Rate Reductions
The changes will impact a broad range of savings vehicles, from Junior ISAs to easy-access accounts. Here is a summary of the key alterations confirmed by Nationwide:
Help to Buy ISA: The rate will drop from 2.5% to 2.25%, a decrease of 0.25%.
Continue to Save: Falls from 1.75% to 1.5%, down 0.25%.
Child Trust Fund / Smart Junior ISA: Reduces from 3.05% to 2.8%, down 0.25%.
Branch Future Saver / Future Saver: Drops from 3.05% to 2.8%, down 0.25%.
One Year Triple Access Online Saver / ISA: Decreases from 3.5% to 3.3%, down 0.2%.
Reward Single Access ISA / Saver: Falls from 3.05% to 2.8%, down 0.25%.
Flex Instant Saver (Issues 2-6): Reduces from 2.5% to 2.3%, down 0.2%.
Branch Reward Saver / ISA: Drops from 3% to 2.75%, down 0.25%.
Other affected accounts include the Branch Triple Access, Branch Limited Access, and various Flex and Instant Access savers, with most seeing reductions of 0.15% to 0.25%.
Context and Market Movement
Nationwide is not acting in isolation. The move reflects a broader trend in the UK banking and savings market following the central bank's decision. Many other high-street lenders are expected to adjust their own savings and mortgage rates in the coming weeks as the lower cost of borrowing filters through the financial system.
For savers, this announcement underscores the importance of regularly reviewing their accounts to ensure they are still receiving a competitive return. With the new rates taking effect on 10 February 2026, members have a short window to consider their options and potentially shop around for better deals if their specific account is facing a cut.
