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New tax year, new ISA for regular savers

9th April 2015 Print

To coincide with the start of the new tax year, Nationwide Building Society is once again offering an ISA account aimed at those savers who like to save regularly throughout the year.

Regular Saver ISA is an instant access, variable rate account paying a competitive 2.00% AER (2.07% tax-free variable).

Starting from 6 April 2015, savers can deposit between £1 and £1,270 per calendar month until 1 March 2016. Savers can also miss a monthly payment or make a withdrawal without penalty. As the account is designed for those who want to save regularly, transfers in from existing ISAs are not permitted.

Regular Saver ISA can be opened and operated via the Nationwide’s mobile banking app as well as through and any of the Society’s branches.

Flexclusive ISA

Also for the start of the new tax year, the Society is now allowing current and previous issues of its Flexclusive ISA to accept transfers in of existing ISA balances.

The current issue of Flexclusive ISA, Issue 8, pays 1.50% AER/tax-free variable. It is available to main Nationwide current account holders. FlexAccount, FlexDirect and FlexPlus current account customers and to those who open one of these current accounts in the last four months using Nationwide’s Current Account Switch Team.

Tom Riley, Nationwide’s Head of Savings, comments: “Whether it is to cover unexpected costs or just to deal with day to day expenditure, it is important for people to have a savings cushion that they can lean on. Building up that nest egg doesn’t have to be an onerous task either, because just putting aside a small amount on a regular basis can make a noticeable difference. Our Regular Saver ISA allows people to save as little as £1 per month. Savers can even miss a payment or make a withdrawal if they need to without being penalised.

“The changes we’ve made to Flexclusive ISA cater for those savers who have existing cash ISA balances and want to move that money to get a better deal.”