New ISA Accounts From Nationwide

04 April 2012

From 6 April 2012, Nationwide is launching new issues of its Online ISA and 75 Day ISA accounts.

Online ISA – Issue
Nationwide will launch the fourth issue of its Online ISA account. Available online to Nationwide customers with a card-based account, Online ISA – Issue 4 will pay a rate of 3.10% AER*/tax-free, which includes a bonus of 2.10% that is fixed until 31 October 2013. As well as paying a competitive rate, the Online ISA is made even more attractive by the fact that the account allows unlimited withdrawals and deposits (subject to annual ISA allowances), which means greater flexibility for customers.

Online ISA allows new subscriptions and transfers in of existing cash ISA balances.

Online ISA – Issue 4

Availability

Online only at www.nationwide.co.uk

Withdrawals

Instant access

Deposits

Unlimited, subject to annual ISA allowance

Min. opening balance

£1,000

Min. operating balance

£1

75 Day ISA – Issue 3
A new issue of the 75 Day Saver account will also be launched, available to both new and existing customers from any Nationwide branch. Until 31 October 2013, 75 Day ISA – Issue 3 will include a fixed introductory bonus of between 1.75% and 1.85% (depending on the balance of the account) AER* tax-free for balances of £1,000 or more. This means 75 Day ISA will pay a return of between 2.75% and 2.85% AER* tax-free variable including the introductory bonuses. Furthermore, savers will be able to make one free withdrawal per tax year without notice.

75 Day ISA – Issue 3 allows new subscriptions and transfers in of existing cash ISA balances.

75 Day ISA – Issue 3

Availability

In branch

Withdrawals

One free withdrawal per tax year. For any further withdrawals in a specific tax year, penalty-free access is available provided 75 days advance notice is given on the amount to be withdrawn. For immediate access, 75 days loss of interest will be applicable

Deposits

Unlimited, subject to annual ISA allowance

Min. opening balance

£1,000

Min. operating balance

£1

Richard Marriott, Nationwide’s head of savings, said: “Savers have just a few days left to use their annual ISA allowance for the 2011/12 tax-year. ISA allowances can’t be rolled over, so if savers don’t use it, they will lose it.

“Savers on a higher rate of income tax pay as much as 40% tax on their savings interest. By investing in an ISA they can boost the income they will receive rather than paying it to the taxman.”

Notes to editors:
* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest were paid and compounded once each year. Tax-free is the contractual rate of interest payable where interest is exempt from income tax.

Online ISA – Issue 4

In order to apply for an Online ISA, a customer must already hold a Nationwide FlexAccount, Invest Direct, CashBuilder Card or Smart Card.

RATES FOR ONLINE ISA – ISSUE 4, EFFECTIVE FROM 6 APRIL 2012

ONLINE ISA ISSUE 4

AER tax-free (including fixed bonus)

AER tax-free (variable)

£1,000+

3.10*%

1.00%

£1 - £999

0.25%

0.25%

*Rate includes bonus of 2.10% fixed until 31 October 2013

Balances of £1,000+ offer an introductory rate fixed until 31 October 2013, after this date it reverts to a variable rate, currently 1.00% AER tax-free. For any day the balance goes below £1,000 you earn a rate of 0.25% AER tax-free variable and no bonus.

RATES FOR 75 DAY ISA – ISSUE 3, EFFECTIVE 6 APRIL 2012

Tax-free p.a./AER

Bonus rate

Tax-free p.a. / AER excluding bonus

£25,000 +

2.85%

1.85%

1.00%

£1,000 - £24,999

2.75%

1.75%

1.00%

£1 - £999

0.25%

n/a

0.25%

Rate includes a bonus of 1.75% - 1.85% fixed until 31 October 2013

About Nationwide Building Society
Nationwide is the world's largest building society as well as one of the largest savings providers and a top-three provider of mortgages in the UK. It is also a major provider of current accounts, credit cards, ISAs and personal loans. Nationwide has around 15 million members.

Since the credit crunch began in 2007, Nationwide has remained profitable against a very difficult economic environment. In the half year ending September 2011 Nationwide made a strong underlying profit of £172 million – up 17% from the previous year. Its strong financial performance and prudent business model means that Nationwide is included in Global Finance magazine’s Top 50 Safest Banks in the World.

Nationwide has around 700 branches and customers can manage their finances in branch, on the telephone, internet and post. The Society has around 16,000 employees. Nationwide's head office is in Swindon with administration centres based in Northampton, Bournemouth and Dunfermline. The Society also has a number of call centres across the UK.

Please note: If you are a customer looking for information on our products and services, please visit the main website.