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, savers in Nationwide’s Flexclusive Regular Saver, Regular Saver, FlexOne Regular Saver, Help to Buy ISA, Save to Buy and Save to Buy ISA will see no change in their existing rate.
No Nationwide customer will see a reduction in their existing variable rate savings rates of more than 0.25%. The Society’s existing customers will continue to benefit from a range of competitive savings accounts.
The changes, which have been carefully managed to balance the needs of both our borrowers and savers, will be effective from 1 September 2016*.
Chris Rhodes, Nationwide’s Executive Director for Group Retail, said: “During times of economic uncertainty, it’s important we continue to balance the needs of borrowers and savers. Our mortgage and savings rates continue to be some of the most competitive available.
“We have worked hard to help our customers through the period of record low interest rates by continuing to lend to those who need a mortgage, while also supporting hard-pressed savers over the medium to longer term.
“This is why we have taken the decision to support the rates on those products designed to help people buy a home of their own as well as protecting those savings products that encourage regular saving.
“We will continue to monitor our rates to ensure that they offer good value, while also reflecting market conditions.”