Nationwide launches new issue of MySave Online Plus
From 1 April 2012, Nationwide Building Society will be launching a new issue of its MySave Online Plus account. Customers opening the account with at least £1,000 will receive a rate of 2.85 per cent AER/2.81 per cent gross p.a. including a fixed bonus of 1.31 per cent gross for 12 months.
Those investing at least £25,000 will receive a market-leading rate of 3.17 per cent AER/3.12 per cent gross p.a., which includes a fixed bonus of 1.62 per cent gross for 12 months.
Existing MySave Online Plus customers who opened their account before this date will be unaffected by this change.
MySave Online Plus is available to anyone with a UK account that is enabled to accept direct debits. This will be used to transfer money in and out of MySave Online Plus. Opening MySave Online Plus account is quick and easy, and is done with a minimum opening balance of £1,000 and maximum investment of £5 million.
Customers can make one free withdrawal per annum. Those making further withdrawals, including closure can do so, but will receive a lower rate and no bonus in the month they make a withdrawal.
Richard Marriott, Nationwide's Head of Savings, said: "The new issue of the MySave Online Plus account pays a competitive rate while still allowing customers to dip into their funds if they need too.
"The account pays a competitive 2.85 per cent AER from £1,000, but if customers have a balance of £25,000 or more they can receive a market-leading rate of 3.17 per cent AER."