12 August 2016
Following the 0.25% reduction in Bank Rate, Nationwide Building Society is today (Friday 12 February) launching new issues of selected variable savings accounts.
The new rates for annual interest on balances of £1 or more are:
- Smart Limited Access issue 2 paying 2.25% gross p.a./AER
- Flexclusive ISA issue 14 paying 0.95% gross p.a./AER
- Inheritance ISA issue 5 paying 0.75% gross p.a./AER
- Instant ISA Saver issue 8 paying 0.75% tax-free./AER
- Limited Access Saver issue 5 paying 0.65% gross p.a./AER
- Loyalty Saver issue 7 paying between 0.65% and 0.95% gross p.a./AER (rate varies depending on length of membership)
- Instant Access Saver issue 3 paying 0.25% gross p.a./AER
The previous issues of the above accounts were withdrawn from sale at the close of business on Thursday 11 February.
Nationwide has worked hard to protect savers by supporting those products designed for people saving regularly and building up a pot of money for a deposit. As a result, Nationwide’s Flexclusive Regular Saver, Regular Saver, FlexOne Regular Saver, Help to Buy ISA, Save to Buy and Save to Buy ISA have seen no change in the existing rate as a result of the Bank Rate change.
Notes to Editors:
AER stands for Annual Equivalent Rate which 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.
Full details of all Nationwide’s cash ISAs can be found at: http://www.nationwide.co.uk/products/isas/isas
Full details of all Nationwide’s variable savings rates can be found at: http://www.nationwide.co.uk/products/savings/our-savings-accounts/all-savings-accounts