Product Update: Cash ISAs

22 June 2012

From 22 June 2012, Nationwide is launching new issues of its Online ISA and 75 Day ISA accounts.

Online ISA – Issue 5
Available online to Nationwide customers with a card-based account, Online ISA – Issue 5 will pay a rate of 2.75% AER*/tax-free, which includes an introductory bonus of 1.75% that is fixed until 31 December 2013. The Online ISA allows unlimited withdrawals and deposits (subject to annual ISA allowances), providing great flexibility for customers.

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

  Online ISA – Issue 5
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 4
Available to both new and existing customers from any Nationwide branch, the 75 Day ISA will pay a rate of 2.50% AER* tax-free, which includes an introductory bonus of 1.50% that is fixed until 31 December 2013. Savers will be able to make one free withdrawal per tax year without notice.

75 Day ISA – Issue 4 allows new subscriptions and transfers in of existing cash ISA balances.

  75 Day ISA – Issue 4
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in a specific tax year, penalty-free access is available provided 75 days advance notice is given on the amount to be withdrawn.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

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 5

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 5, EFFECTIVE FROM 22 JUNE 2012

ONLINE ISA ISSUE 5 AER % tax-free (including bonus) AER % tax-free (excluding bonus)
£1,000+ 2.75*% 1.00%
£1 - £999 0.25% 0.25%

*Rate includes bonus of 1.75% fixed until 31 December 2013

Balances of £1,000+ offer an introductory rate fixed until 31 December 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 4, EFFECTIVE  22 JUNE 2012

75 DAY ISA ISSUE 4 AER % tax-free (including bonus) AER % tax-free (excluding bonus)
£1,000 + 2.50*% 1.00%
£1 - £999 0.25% 0.25%

Rate includes a bonus of 1.50% fixed until 31 December 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 full year ending April 2012 Nationwide made a strong underlying profit of £304 million – up 10% from the previous year. 

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.