Last January I remember the buzz – Nationwide had just slashed their headline regular saver from 8% to 6.5% and people were still piling in like it was free money. Fast forward twelve months and thousands of those accounts are hitting maturity right now. If yours is one of them, the clock is ticking.
Do nothing and every pound you fought to squirrel away each month gets dumped into Nationwide’s standard instant access account paying a laughable 1% or less. That’s the financial equivalent of moving from a five-star hotel to a motorway service station. So let’s fix that, shall we?
What Actually Happens When Your Account Matures?
Nationwide is pretty clear in the small print: on the first anniversary the regular saver closes and everything (capital plus the lovely 6.5% interest) slides into whatever “default” easy-access account you already hold with them.
If you opened the saver online, that usually means their Instant Access Saver – currently 1.10% for balances under £50k. If you’re a FlexPlus or FlexDirect customer it might be slightly better, but nowhere near 6.5%. Either way, the glory days are over unless you take action.
I’ve seen people lose hundreds of pounds in interest simply by forgetting the maturity date. Don’t be that person.
Option 1 – Roll Straight Back Into Another Regular Saver
Good news first: Nationwide haven’t withdrawn the product. You can still open another 6.5% one-year regular saver today (as I write this in December 2025). Maximum £200 a month, maximum three withdrawals before the rate crashes to 1.05%.
That’s still a decent deal when the best easy-access accounts are scraping 4.4%, but there are actually higher rates out there if you’re willing to shop around.
Here are the standout regular savers available right now:
- Principality BS – 7.50% fixed for 6 months
£1 minimum, £200 max per month, no withdrawals allowed. Perfect if you only want a short-term boost. - Zopa Boosted Regular Saver – 7.1% for 12 months
Up to £300 a month, but you need a Zopa current account (“Biscuit”) to qualify. - Co-operative Bank – 7.0% for 12 months
£1–£250 a month, unlimited withdrawals (but they count toward the monthly limit). Current account required. - Lloyds Club Lloyds – 6.25% for 12 months
£25–£400 a month, need a Club Lloyds current account. Often paired with £200 switch bonus. - First Direct – 6.0% for 12 months
£25–£300 a month, comes with £175 switch bonus for new customers.
Run the numbers and over £2,400 saved in a year, Zopa edges it with roughly £20-£30 extra interest compared to Nationwide. Not life-changing, but money is money.
“Regular savers are brilliant for building the savings habit, but the cliff-edge at maturity is brutal. Mark the date in your calendar the day you open one.”
– A lesson I learned the hard way
Option 2 – Lock Into a Fixed-Rate Bond Before Rates Fall Further
The Bank of England meets again on 18 December and markets are pricing in another quarter-point cut. Fixed-rate savings accounts have already started sliding.
If you can leave the money alone for a year, some one-year fixed rates are still attractive:
| Provider | Rate | Min/Max Deposit | Access |
| Union Bank of India (UK) | 4.85% | £1k / £1m | No early access |
| Access Bank UK | 4.81% | £5k / £500k | No early access |
| GB Bank | 4.75% | £1k / £250k | No early access |
| Shawbrook Bank | 4.71% | £1k / £85k | No early access |
Yes, the rates look lower than your old regular saver, but remember you can now tip in the whole lump sum rather than £200 a month. On £5,000 the difference in interest over one year is actually pretty small versus drip-feeding a regular saver.
Option 3 – Go Easy-Access (But Stay Nimble)
If you want flexibility because 2026 might bring big expenses (house deposit, wedding, new car), easy-access still has life left.
Top rates today (8 December 2025):
- Cahoot (Santander) – 4.40%
- Chip – 4.37% (app-only)
- Shawbrook Easy Access – 4.34%
- Chase Saver – 4.30% (boosted for current account holders)
These accounts tend to cut rates without warning, so treat them as parking spots rather than forever homes.
Option 4 – Shelter Everything in a Cash ISA Before the Rules Change
Here’s the kicker almost nobody is talking about yet: Rachel Reeves confirmed in the Budget that the ISA allowance drops from £20,000 to £12,000 from April 2027. If you’re a higher-rate taxpayer, the tax drag on savings interest is about to get painful.
Best cash ISAs right now:
- Trading 212 Cash ISA – 4.61% easy access
- Plum Cash ISA – 4.58% easy access (first £10k)
- Virgin Money 1-year fixed ISA – 4.59%
- Moneybox Cash ISA – 4.55% easy access
Even if you only pay basic-rate tax today, getting money inside the ISA wrapper now future-proofs you against bracket creep or future rate rises.
Option 5 – Grab a Switching Bonus and Piggy-Back Their Regular Saver
Santander, Lloyds, First Direct and Nationwide itself are all throwing cash at switchers this month. Typical offers:
- Santander Edge – £200 switch bonus
- Lloyds Club Lloyds – £200 switch bonus + 6.25% regular saver
- First Direct – £175 switch bonus + 6.0% regular saver
Do the switching dance once, pocket £175-£200 more or less instantly, then enjoy an attached regular saver that beats Nationwide’s rate. Just make sure you’re comfortable with the current account (minimum pay-ins, fees, etc.).
My Personal Move This December
For what it’s worth, my own Nationwide 6.5% matures on 28 December. I’m splitting the pot three ways:
- £5,000 into Trading 212 Cash ISA at 4.61% (tax-free safety net)
- £3,000 into Principality 6-month 7.5% while it still exists
- The rest into Chip easy-access in case 2026 brings surprises
That mix gives me liquidity, a short-term high rate, and long-term tax protection. Your mileage may vary, but doing something beats doing nothing every single time.
Whatever you choose, set a diary reminder for today. Your future self – the one who wants to buy a house, take a sabbatical or just sleep better at night – will thank you.
Rates correct as of 8 December 2025 and can change at any time. Always double-check before transferring money.
