Nationwide launches Base Rate Tracker Premium offshore savings account

With effect from Monday 2 July 2007, Nationwide International is launching a new Base Rate Tracker Premium offshore savings account paying up to 6.00% gross p.a./AER.

The new account will offer:

Flexibility with instant access – four penalty free withdrawals of any amount each financial year

Competitive interest rates – paying up to 6.00% (annual or deferred interest) and up to 5.80% (monthly interest). See notes to editors for full details.

Rate guarantees
with annual interest, the account guarantees to match or beat the Bank of England base rate for the first year. Thereafter, the rate is guaranteed to pay 0.25% below base rate until 1 January 2010

with monthly interest, the account guarantees to pay no less than 0.20% below base rate for the first year. Thereafter, the rate is guaranteed to pay 0.60% below base rate until 1 January 2010

Annual, monthly or deferred interest options – allow people to time their interest payments to suit their needs

£5,000 minimum investment – a minimum balance of £5,000 is required to open an account. The maximum balance is £2 million per account.

Carl Gandy, managing director of Nationwide International, said: “We are pleased to launch the new Base Rate Tracker Premium account which combines one of the best interest rates in the offshore market with the flexibility of easy access for investors. What’s more, the account offers a rate guarantee linked to the Bank of England base rate, which makes it a good choice for anyone looking for security for their money.”