Nationwide launches Flexclusive ISA and Easy Saver ISA

04 April 2013

Nationwide Building Society is launching two new cash ISAs, Flexclusive ISA and Easy Saver ISA, available from 6 April.

Flexclusive ISA (Issue 3) is the Society’s best instant access cash ISA paying 2.50% AER*/tax-free variable, which includes a fixed introductory bonus of 1.00% until 30 November 2014. Flexclusive ISA is available to main FlexAccount, FlexDirect and FlexPlus current account customers** and to those who open one of Nationwide’s three current accounts and use Nationwide’s Account Transfer Service. This reinforces Nationwide’s strategy to reward customers who have a deeper relationship with the Society.¹  

For those without a Nationwide main current account, they can apply for Easy Saver ISA (Issue 1), which pays 2.25% AER*/tax-free variable. The rate includes a fixed introductory bonus of 1.75% until 31 October 2014.

Both accounts will appeal to those savers who want to use their 2013/14 tax-free cash ISA allowance straight away but, at the same time, want immediate access to their money. The minimum opening balance for both Flexclusive ISA and Easy ISA is £1, with a maximum deposit of £5,760 for the 2013/14 tax year. Transfers in from existing ISAs held with Nationwide or another provider are not permitted.

Richard Marriott, Nationwide’s head of savings, said:  “Nationwide believes in rewarding its main current account customers with exclusive savings deals.

“If customers don’t qualify for our Flexclusives ISA, but still want to maximise using their new tax-year cash ISA allowance, they can choose our new Easy Saver ISA, which pays a great rate of 2.25% AER tax-free variable.

“Whilst many savers don’t necessarily need access to their money, most prefer the peace of mind that comes from having their funds in an instant access account. Should an emergency arise, Flexclusive ISA and Easy ISA customers can rest assured they will be able to make a withdrawal with ease, either via Online Banking or in any Nationwide branch.

“The current economic environment isn’t easy for savers, but utilising their tax-free cash ISA allowance will help savers get the best returns possible on their savings.”

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 3)

RATES FOR FLEXCLUSIVE ISA (ISSUE 3), EFFECTIVE FROM 6 APRIL 2013

FLEXCLUSIVE ISA AER / tax-free variable (inc bonus) AER / tax-free variable (exc bonus)
£1+ 2.50% 1.50%

Flexclusive ISA includes a 1.00% fixed introductory bonus rate until 30 November 2014. After this date it reverts to a variable rate, currently 1.50% 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:

  1. Have been paying in £750+ a month (excluding internal transfers) for the last 3 months; or
  2. Complete an account transfer to us (from a non-Nationwide account) using our Account Transfer Service or have done so in the last 4 months;

or

b) Hold a FlexDirect or FlexPlus account 

¹ Rewarding loyalty

Flexclusive ISA is a further addition to the exclusive benefits that main current account customers are already eligible to apply for. Other current account offers available to customers using their Nationwide current account as their main current account include:

  • A competitive personal loan rate – currently 5.9% APR Representative for main current account customers for loans of £7,500 to £14,999 for up to five years. 12.9% APR Representative.
  • The Select Credit Card – offering a competitive 20-month balance transfer offer and a 12-month purchase offer
  • £50 introductory discount off car insurance when you buy a new policy

Qualifying conditions vary by offer.

  FLEXCLUSIVE ISA (ISSUE 3)
Availability Online at www.nationwide.co.uk or in Branch
Withdrawals Instant access
Deposits Unlimited, subject to annual cash ISA allowance. New subscriptions online, no transfers in or consolidations allowed.
Min. opening balance £1
Min. operating balance £1

EASY SAVER ISA (ISSUE 1)

RATES FOR EASY SAVER ISA (ISSUE 1), EFFECTIVE FROM 6 APRIL 2013

EASY ISA AER / tax-free variable (inc bonus AER / tax-free variable (exc bonus)
£1+ 2.25% 0.50%

Easy ISA includes a 1.75% fixed introductory bonus rate until 31 October 2014. 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 online, no transfers in or consolidations allowed.
Min. opening balance £1
Min. operating balance £1

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

About Nationwide

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.

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