Nationwide Champion Saver account product update

Nationwide Building Society is changing the bonus expiry date for its Champion Saver account to 31 January 2012 for all accounts opened from 1 November 2010.

Accounts opened before this date are unaffected by this change and will continue to receive their fixed rate bonuses until they expire.

For all accounts opened from 1 November 2010, the Champion Saver's overall rate, including bonus, remains unchanged at 2.55% gross p.a./AER (variable) for balances over £1,000.

The key feature of Champion Saver is that it tracks the average rate offered by the top five paying branch-based instant access, limited access and notice accounts (including bonuses) from a basket of eight High Street competitors.  If the rates from the top five competitors change, the Champion Saver core rate changes accordingly.  This means Nationwide savers can be sure they will always receive a competitive rate for their savings in the current low interest rate environment.

Nationwide is committed to writing to customers to remind them when their fixed rate bonus is due to end.