11 June 2013
Nationwide is to introduce a regular premium option for new customers alongside its existing lump sum investments.
Customers can make regular payments into a portfolio of funds and is available through advisers in branches. Customers can make either lump sum investments, regular payments or a combination of both.
The ability to make regular premium payments forms part of Nationwide’s efforts to ensure that a choice of options is available through its financial planning service, offering advice to customers on the high street.
Rob Angus, Head of Protection and Investments, said: “We want to build strong relationships with our customers and help them achieve their long-term goals, offering them easily accessible advice and a choice of options to suit their needs.
“While other high street providers are moving away from mass market advice or setting high minimum amounts before they start offering advice, Nationwide is committed to helping customers who want to broaden their options.”
As with all of Nationwide’s investment products, there will be a 3 per cent initial fee followed by a 0.5 per cent ongoing service charge. There will be an advice fee to access the regular payment option, based on 3 per cent of monthly premiums over 48 months. There is a minimum monthly payment of £20 a month,
Nationwide has a range of 19 investment funds from some of the UK’s leading fund managers, carefully selected and regularly reviewed, designed to help meet individual investment needs. These are provided through Legal & General.
Notes to editors:
The investment options Nationwide currently offers are provided through Legal & General. Applications are required for all products. Further details of terms and conditions are available on request.
The value of your investment can go down as well as up so you may get back less than you originally invested.
About Nationwide Building Society
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 branch, on the telephone, internet and post. The Society has around 15,000 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.