Nationwide updates savings bonds rates and fixed rate ISAs
Nationwide Building Society has announced new interest rates across all its Fixed Rate ISAs, Fixed Rate Bonds, e-Bonds, Tracker Bonds and its three-year Combination Savings Bond.
All changes come into effect from today, Thursday 12 May 2011.
Fixed Rate Bonds and e-Bonds
The new rates for annual interest for balances of £1 or more will be:
Six-month paying between 2.25% and 2.50% gross p.a (2.26% and 2.52% AER)
One-year paying between 2.85% and 3.10% gross p.a./AER
Two-year paying between 3.35% and 3.60% gross p.a./AER
Three-year paying a best on the high street rate of 4.20% gross p.a./AER
Monthly interest options are available for all Nationwide's Fixed Rate Bonds and e-Bonds.
Nationwide's current range of Fixed Rate Bonds and e-Bonds were withdrawn at the close of business on Wednesday 11 May 2011.
Tracker Bond
The new rate for annual interest on Nationwide's 18-month Tracker Bond will be between 2.75% and 3.00% gross p.a./AER.
The current 18-month Tracker Bond were withdrawn at the close of business on Wednesday 11 May 2011.
Combination Savings Bond
The new rate for annual interest on Nationwide's three-year Combination Savings Bond will be 4.50% gross p.a./AER.
The rate on the one-year Combination Savings Bond remains the same.
The current three-year Combination Savings Bond were withdrawn at the close of business on Wednesday 11 May 2011.
Nationwide's Combination Savings Bonds are available to customers who also invest in a Protected Equity Bond through the Society. The minimum investment for the Combination Savings Bond is £3,000 (or £3,600 if a Protected Equity Bond ISA is purchased). Both products must be opened at the same time and the same amount or more must be invested in a six-year Protected Equity Bond.
Fixed Rate ISAs
The new rates for annual interest for balances of £1 or more will be:
One-year paying between 2.85% and 3.10% tax-free p.a./AER
18-month paying between 3.40% and 3.65% tax-free p.a./AER
Four-year paying between 4.30% and 4.40% tax-free p.a./AER
Monthly interest options are available for all Nationwide's Fixed Rate ISAs.
The new rates on all Nationwide's Fixed Rate ISAs will continue the Society's Savings Promise to guarantee that its Fixed Rate ISA rates will match or beat its equivalent Bond rates.
Nationwide's current range of Fixed Rate ISAs, including the three-year Fixed Rate ISA exclusively for existing Nationwide savers, were withdrawn at the close of business on Wednesday 11 May 2011.
e-ISA and MySave Online Plus
The rates on both the e-ISA and MySave Online Plus accounts remain the same.
e-ISA² pays a competitive 3.10% tax-free p.a./AER (variable) including a fixed bonus of 1.35% gross p.a. until 31 August 2012 for balances over £1
MySave Online Plus pays a market-leading 3.05% AER / 3.01% gross p.a (variable) including a fixed bonus of 1.51% gross p.a. for 12 months