Nationwide rewards existing savers with new cash ISA

Nationwide Building Society has launched a new, limited-edition, three-year Fixed Rate ISA paying a market-leading rate of annual interest of 4.20% AER tax-free.  This new ISA is only available to customers who have an existing savings relationship with Nationwide, and demonstrates the Society's commitment to rewarding existing savers with exclusive savings products.  This commitment was outlined as part of Nationwide's seven Savings Promises, which launched in November 2010.

The new three-year product pays up to 0.35% more than Nationwide's current three-year Fixed Rate ISA.  It will enable loyal Nationwide savers to maximise their increased 2011/12 ISA allowance straight away through a market-leading product.

Existing customers, who have had a minimum of £1 in any Nationwide savings account for at least three months prior to application, can open this new ISA in any Nationwide branch.  The minimum opening balance is £1 with a maximum deposit of £5,340, the cash ISA limit for 2011/12.  The three-year Fixed Rate ISA can only accept new subscriptions.  No transfers from existing cash ISAs held with Nationwide or another provider are allowed.

Robin Bailey, Nationwide's director for savings and investments, said: "Back in November 2010 when we launched our seven Savings Promises, we made a commitment to ensure that people who have a savings relationship with us are rewarded with exclusive savings products.  The launch of this new market-leading ISA demonstrates Nationwide's commitment to that promise.  This new ISA follows on from the Christmas Loyalty Bond and ISA, and shows those products were not a one-off but that ‘loyalty' products will regularly form part of our savings portfolio."