Nationwide raises rates on fixed and tracker savings accounts
Nationwide Building Society is increasing rates on its Fixed Rate Bonds, Fixed Rate ISAs, e-Bonds, Tracker Bonds and Tracker e-Bonds by up to 0.20%. At the same time, the Society will be raising the rate on its popular MySave Online Plus for all accounts opened from Tuesday 6 September. Nationwide is also launching a new issue of its 75 Day Saver account.
Fixed Rate Bonds and e-Bonds
Nationwide is increasing the rates on six-month and one-year accounts by 0.20%. A new two-year product is also being launched while the rates on the three-year product remain the same.
From Tuesday 6 September, the rates for annual interest on balances of £1 or more are:
Six-month paying between 2.45% and 2.70% gross p.a. (2.47% and 2.72% AER)
One-year paying between 2.85% and 3.10% gross p.a./AER
Two-year paying between 2.95% and 3.20% gross p.a./AER
Three-year paying between 3.25% and 3.50% gross p.a./AER
Tracker Bond and Tracker e-Bond
Nationwide is increasing the rate paid on its 18 month Tracker Bond and 18 month Tracker e-Bond by 0.20%. These accounts now pay a rate of annual interest between 2.70% and 2.95% gross p.a./AER
Fixed Rate ISAs
Nationwide is increasing the rate on its one-year Fixed Rate ISA by 0.20% and also launching a new two-year term. The rate on the three-year Fixed Rate ISA remains the same.
From Tuesday 6 September, the rates for annual interest on balances of £1 or more are:
One-year paying between 2.85% and 3.10% AER tax free
Two-year paying between 2.95% and 3.20% AER tax free
Three-year paying between 3.25% and 3.50% AER tax free
The rate paid on all of the above accounts depends on the account balance. Monthly interest options are available for all Nationwide's Fixed Rate Bonds, e-Bonds, Tracker Bonds, Tracker e-Bonds and Fixed Rate ISAs. Nationwide's previous range of Fixed Rate Bonds, e-Bonds, 18-month Tracker Bond, 18 month Tracker e-Bond and Fixed Rate ISAs were withdrawn at the close of business on Monday 5 September 2011.
MySave Online Plus
Nationwide Building Society is also strengthening its online savings portfolio by raising the rates on its popular MySave Online Plus account. For all accounts opened from Tuesday 6 September, MySave Online Plus will pay a very competitive 3.12% AER (3.08% gross p.a.) variable. This includes a 1.58% bonus that is fixed for the first 12 months.
75 Day Saver Issue 2
Nationwide is launching a new issue of its 75 Day Saver account. Available through any Nationwide branch to new customers, 75 Day Saver Issue 2 will pay 2.50% gross p.a./AER for balances of £1,000 and above, which includes an introductory bonus of 1.50% that is fixed until 31 January 2013.
Richard Marriott, Nationwide's head of savings, said: "As one of the country's leading savings providers we aim to ensure our savers get a competitive return on their money and these new rates will help do just that. In the current climate, it is important to cater for a variety of savings needs. So, whether savers are looking for a quick return over one year, a competitive rate over a longer term, or wish to have easy access via an online or branch account, our extensive range offers savers the variety to choose a product to help suit those needs."