Nationwide keeps its promise to help savers

Launched two years ago, Nationwide's Savings Promises have provided a real benefit to the Society's 11 million savers. They show the Society's commitment to helping savers make the most of their money.

In the current low interest rate environment it is important for savers to utilise their tax-free cash ISA allowance. Savers transferring their cash ISA to Nationwide have earned £2.5m in extra interest as a result of the Society's promise to pay interest from the day we receive their application.

Unlike some other providers, Nationwide doesn't reduce customer's tax breaks by offering lower rates on comparable ISA and taxable savings accounts. The Society guarantees that its fixed rate ISAs will match or beat its equivalent bond rates. The same pledge to match rates is also available on the Society's Champion ISA and Champion Saver.

Nationwide also promises to reward existing savers with exclusive savings products. During the last two years the Society has honoured this promise, launching 8 Loyalty accounts, which have been opened by more than 300,000 members.

For the second time, Nationwide has written to its savers providing them with a personal savings summary detailing, not only the rates they're receiving on their balances per account, but also the latest range of savings accounts we offer that may better suit their needs.

Richard Marriott, Nationwide's head of savings, said:  "The Nationwide Savings Promises have been a real success with our members and have helped them earn valuable additional interest.

"In the current economic environment, we feel it's more important than ever for us to be open and honest with savers about the rates they are receiving and where we can offer them a higher rate of interest.

"The Society continues to reward customer loyalty, rather than just offer the best rates to new customers. Our most recent loyalty account, Loyalty Saver, offers a higher rate of interest the longer you have been a member of the Society and is proving to be one of our most popular ever loyalty accounts.

"These promises really demonstrate our commitment to being ‘On Your Side'."