13 March 2014
On Friday 14 March, Nationwide Building Society is to launch a range of new Fixed Rate Bonds and Fixed Rate ISAs. These new accounts will offer some of the most competitive rates on the high street1.
Fixed Rate Bonds
The new rates for annual interest are:
- Six-month Fixed Rate Bond and e-Bond paying 1.10% gross p.a./AER*
- One-year Fixed Rate Bond and e-Bond paying 1.40% gross p.a./AER*
- Two-year Fixed Rate Bond and e-Bond paying 1.70% gross p.a./AER*
- Three-year Fixed Rate Bond and e-Bond paying 1.80% gross p.a./AER*
- Four-year Fixed Rate Bond and e-Bond paying 2.00% gross p.a./AER*
- Five-year Fixed Rate Bond and e-Bond paying 2.50% gross p.a./AER*
Fixed Rate ISAs
The new rates for annual interest are:
- One-year Fixed Rate ISA paying 1.50% tax-free/AER*
- Two-year Fixed Rate ISA paying 2.05% tax-free/AER*
- Three-year Fixed Rate ISA paying 2.25% tax-free/AER*
- Four-year Fixed Rate ISA paying 2.40% tax-free/AER*
- Five-year Fixed Rate ISA paying 2.50% tax-free/AER*
Monthly interest options are also available for all Nationwide’s Bonds and Fixed Rate ISAs.
All current issues of Six-month, One-year and Five-year Fixed Rate Bonds, e-Bonds and One-year, Two-year and Five-year Fixed Rate ISAs, will be withdrawn from sale at close of business on 13 March 2014.
Darren Bailey, Nationwide’s head of savings pricing, said: “With less than a month to go until the end of the current tax year, many savers are looking to utilise their cash ISA allowance.
“We maintain our promise to ISA savers that we will always pay equal or better on our ISA products to ensure that all customers can really benefit from their tax free savings.
“Our Fixed Rate Cash ISAs offer some of the highest rates on the high street and all accept transfers in, allowing customers to get a competitive rate of interest on both this and previous years’ allowances.
“All our Fixed Rate Bonds and Fixed Rate ISAs offer monthly interest, which may appeal to those who want to generate a regular income from 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. The gross rate of interest is the interest rate payable before any income tax is deducted (if customers do pay tax).
The net rate of interest is the interest rate payable after any income tax is deducted (if customers do pay tax).
Tax-free is the contractual rate of interest payable where interest is exempt from income tax.
Parity on Fixed Rate Bonds and Fixed Rate ISAs
As part of the Nationwide Savings Promises, the Society guarantees its Fixed Rate ISA rates will match or beat its equivalent Bond rates.
1 High street competitors include Halifax, Santander, Royal Bank of Scotland, NatWest, Lloyds Bank and Barclays.
Further details on all Nationwide’s Savings Promises can be found at: http://www.nationwide.co.uk/support/support-articles/services/savings-promises
- Fixed Rate Bonds and Fixed Rate ISAs are available from Nationwide branches. e-Bonds are available from www.nationwide.co.uk.
|Term of bond
||One year or less
|Loss of interest
If the term includes part of a year, the early access charge will be calculated based on the next whole year e.g. 14-month term = the two-year early access charge.
Full details of all Nationwide’s savings accounts can be found at: http://www.nationwide.co.uk/products/savings/our-savings-accounts/all-savings-accounts
About Nationwide Building Society
Nationwide is the world's largest building society as well as the second largest savings and mortgage provider 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, via the mobile app, on the telephone, internet and post. The Society has around 17,000 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.
Customers can manage their finances in a 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.