Nationwide launches new bonds with increased rates for savers

Nationwide Building Society has announced that it will be launching a range of new bonds offering competitive interest rates and guaranteed returns for savers. With effect from Wednesday 2 April 2008, the following bonds will be available:

One year e-Bond paying 6.30%
One year Fixed Rate Bond paying 6.20%
Two year Loyalty Fixed Rate Bond paying 5.75%

Nationwide’s one year e-Bond, paying a competitive rate of 6.30%, will provide a guaranteed return for savers and is available online to anyone with, or opening, a Nationwide FlexAccount.

Nationwide’s one year Fixed Rate Bond, paying 6.20%, will be available to new and existing members.

Additionally, a new two year Loyalty Fixed Rate Bond, offering long-term good value with a competitive rate of 5.75%, will be available to over eight million existing members of the Society who have been a member continuously for three years or more.

Matthew Carter, Nationwide’s savings director, said: “At Nationwide we can be committed to our members because we have no shareholders to please. These rates really demonstrate the benefits of being part of a large mutual organisation and are great news for savers.

“Savers will now be able to benefit from guaranteed high returns of as much as 6.30% on our one year Bonds, and 5.75% over a longer, two year period. Furthermore, Nationwide continues to offer savers a very competitive rate of 6.15% on its Fixed Rate ISA Bond, which is available for a term of one or two years.”

Nationwide’s current range of Fixed Rate Bonds will be withdrawn from sale at close of business on Tuesday 1 April 2008.

For more information, visit nationwide.co.uk.