Product Update: Flexclusive ISA, Easy Saver ISA and Web ISA

08 November 2013

On 8 November 2013, Nationwide Building Society launched new issues of Flexclusive ISA, Easy Saver ISA and Web ISA.

Flexclusive ISA

Flexclusive ISA (Issue 6) is the Society’s best instant access cash ISA paying 1.75% AER*/tax-free variable, which includes a fixed introductory bonus of 0.75% until 31 January 2015. Flexclusive ISA is available to main FlexAccount, FlexDirect and FlexPlus current account customers** and to those who open one of these current accounts using Nationwide’s Current Account Switch Team.

Easy Saver ISA

Those without a Nationwide main current account, can apply for Easy Saver ISA (Issue 4), which pays 1.60% AER*/tax-free variable. The rate includes a fixed introductory bonus of 1.10% until 31 January 2015.

Both Flexclusive ISA (Issue 6) and Easy Saver ISA (Issue 4) are open to savers who want to use their 2013/14 tax-free cash ISA allowance, but also want immediate access to their money. The minimum opening balance for both Flexclusive ISA and Easy Saver ISA is £1, with a maximum deposit of £5,760 for the 2013/14 tax year. Transfers from existing ISAs held with Nationwide or another provider are not permitted.

Web ISA

Web ISA (Issue 5) pays a rate of 1.50% AER*/tax-free variable on balances over £1,000. The rate includes an introductory fixed bonus rate of 1.00% until 31 January 2015.

The account allows unlimited withdrawals and deposits (subject to annual cash ISA allowances), providing great flexibility for customers.

Web ISA allows new subscriptions and transfers of existing cash ISA balances held with Nationwide or other providers.

Flexclusive ISA (Issue 5), Easy Saver ISA (Issue 3) and Web ISA (Issue 4) were withdrawn from sale at close of business on 7 November 2013.

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.

FLEXCLUSIVE ISA (ISSUE 6)

RATES FOR FLEXCLUSIVE ISA (ISSUE 6), EFFECTIVE FROM 8 NOVEMBER 2013

FLEXCLUSIVE ISA (ISSUE 6) AER / tax-free variable (inc bonus) AER / tax-free variable (exc bonus)
£1+ 1.75% 1.00%

Flexclusive ISA includes a 0.75% fixed introductory bonus rate until 31 January 2015. After this date it reverts to a variable rate, currently 1.00% AER tax-free.

**Flexclusive ISA is available to customers aged 18 or over who meet one of the following two criteria:

a) Hold a FlexAccount with a Visa debit card (not cash card or cash card+) and:

  • Have been paying in £750+ a month (excluding internal transfers) for the last 3 months; or
  • Complete an account switch to us (from a non-Nationwide account) using our Current Account Switch Team or have done so in the last 4 months; or

b) Hold a FlexDirect or FlexPlus account 

  FLEXCLUSIVE ISA (ISSUE 6)
Availability Online at www.nationwide.co.uk or in Branch
Withdrawals Instant access
Deposits Unlimited, subject to annual cash ISA allowance. New subscriptions only, transfers from existing cash ISAs held with Nationwide or another provider are not permitted.
Min. opening balance £1
Min. operating balance £1

EASY SAVER ISA (ISSUE 4)

RATES FOR EASY SAVER ISA (ISSUE 4), EFFECTIVE FROM 8 NOVEMBER 2013

EASY SAVER ISA (ISSUE 4) AER / tax-free variable (inc bonus AER / tax-free variable (exc bonus)
£1+ 1.60% 0.50%

Easy Saver ISA includes a 1.10% fixed introductory bonus rate until 31 January 2015. After this date it reverts to a variable rate, currently 0.50% AER tax-free.

  EASY SAVER ISA
Availability Online at www.nationwide.co.uk* or in Branch
Withdrawals Instant access
Deposits Unlimited, subject to annual cash ISA allowance. New subscriptions only, transfers from existing cash ISAs held with Nationwide or another provider are not permitted.
Min. opening balance £1
Min. operating balance £1

*to apply online you must hold a Nationwide savings, mortgage or current account.

WEB ISA (ISSUE 5)

In order to apply for a Web ISA, a customer must already hold a Nationwide FlexAccount, FlexDirect, FlexPlus, Invest Direct, CashBuilder Card or Smart Card. Customers can apply for a CashBuilder Card account and Web ISA at the same time.

RATES FOR WEB ISA (ISSUE 5), EFFECTIVE FROM 8 NOVEMBER 2013

WEB ISA (ISSUE 5) AER / tax-free variable (inc bonus) AER / tax-free variable (exc bonus)
£1,000 + 1.50% 0.50%
£1-£999 n/a 0.25%

Balances of £1,000 + include a 1.00% fixed introductory bonus rate until 31 January 2015. After this date it reverts to a variable rate, currently 0.50% 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.

  WEB ISA (ISSUE 5)
Availability Online only at www.nationwide.co.uk
Withdrawals Instant access
Deposits Unlimited, subject to annual cash ISA allowance
Min. opening balance £1,000
Min. operating balance £1

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.

Customers can manage their finances in a 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.