21 March 2013
From 20 March 2013 Nationwide Building Society is launching a new issue of MySave Online Plus.
MYSAVE ONLINE PLUS (ISSUE 14)
New MySave Online Plus customers who make no more than one withdrawal a year will receive a rate of 1.70% AER* (1.69% gross p.a.) variable, including a fixed bonus of 1.19% gross p.a. payable for 12 months.
Customers can make one free withdrawal per annum. Those making further withdrawals, including closure, can do so, but will receive a lower rate and no bonus in the month they make a withdrawal.
Existing customers who opened previous issues of MySave Online Plus are unaffected by this change.
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. The gross rate of interest is the interest rate payable before any income tax is deducted (if customers do pay tax).
MYSAVE ONLINE PLUS (ISSUE 14) – RATES EFFECTIVE FROM 20 MARCH 2013.
||No withdrawal in any given month
||Withdrawal made in any given month²
||Gross p.a. (variable)
||Net p.a. (variable)
||Gross p.a./AER (variable)
||Net p.a. (variable)
¹ Rates include a fixed rate bonus of 1.19% gross p.a. payable for the first 12-months on the account.
² Customers can make one free withdrawal per annum. Further withdrawals are permitted, but no bonus and a lower rate of 0.10% gross p.a./AER (variable) interest will be paid in the month a withdrawal is made.
- To open and operate MySave Online Plus, customers will need a UK account, held in their name, which accepts direct debits. This nominated account will be used to pay money into and out of their MySave Online Plus account.
- The minimum opening balance is £1,000 and the maximum investment is £5 million.
- Minimum operating balance is £1.
- Interest paid monthly
Nationwide is the world's largest building society as well as the second largest savings provider 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 customers.
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.