1 December 2015
- Nationwide rewards existing current account holders with competitive savings rates
- Savers can put away a significant sum per month with net balance increase of £500 permitted
- Flexibility with no minimum deposit requirement and instant access to funds
Nationwide Building Society is today launching two new savings accounts paying variable rates of up to 5% for those who like to save regularly.
Both accounts offer savers the chance to put away a significant amount per month with a net balance increase of up to £5001 per calendar month permitted. Savers have flexibility with these new accounts as there is no loss of interest if a monthly deposit is missed and customers can get instant access to their money should they wish to make withdrawals.
The accounts can be opened and operated in branch and online. The interest rates are payable for a fixed term of 12 months following the account opening.
The two regular savings accounts are:
Flexclusive Regular Saver – 5% gross p.a./AER (variable)
Flexclusive Regular Saver is available to Nationwide’s main current account2 customers.
Regular Saver – 2% gross p.a./AER (variable)
Regular Saver is available to any new or existing Nationwide savers who do not have one of the Society’s current accounts.
At the end of the 12-month term, the Flexclusive Regular Saver account will revert to the Society’s instant access Flexclusive Saver account, or nearest equivalent, while the Regular Saver account will revert to Instant Access Saver, or nearest equivalent.
Tom Riley, Nationwide’s Head of Savings, said: “These new savings accounts offer rates that are amongst the most competitive on the market and provide a further benefit to customers who use Nationwide for their main current account. As a mutual, the Society is committed to providing excellent value to existing members.
“Each of our current accounts comes with its own individual benefits, whether it’s the free European travel insurance on FlexAccount, 5% credit interest on FlexDirect or the suite of benefits that comes with our packaged FlexPlus account.
“Even if savers don’t have one of our current accounts, they will still be able to benefit from a competitive savings rate that makes the most of putting a bit of money away on a regular basis.”