Date issued: 13 Nov 2009
NATIONWIDE ONE YEAR FIXED RATE ISA BOND UPDATE
Nationwide Building Society announces details of its new one year Fixed Rate ISA (FRISA) Bond, which will be available from today, Friday 13 November 2009.
The one year FRISA Bond offers fixed annual or monthly interest options. The annual option pays:
- 2.50% gross p.a./AER* for balances between £1 and £2,999
- 2.75% gross p.a./AER* for balances above £3,000
Andy Hutchinson, Nationwide's head of savings, said: "In addition to the one year Fixed Rate ISA Bond, Nationwide also offers ISA bonds with fixed terms between six months and five years. This includes our popular three year 50+ Fixed Rate ISA Bond, which continues to be exclusively available for those aged 50 or over on or before 5 April 2010. So for consumers who are looking for tax-efficient savings with a guaranteed return, our comprehensive range of Fixed Rate ISA Bonds may be ideal."
The previous one year FRISA Bond was withdrawn from sale at the close of business on Thursday 12 November 2009.
All other Fixed Rate Bonds, e-Bonds1 and Fixed Rate ISA Bonds remain unchanged and continue to be available.
Notes to editors:
* AER is the Annual Equivalent Rate which illustrates what the interest would be if interest was paid and compounded once each year.
The gross rate of interest is the interest rate payable before any income tax is deducted (if a customer pays tax).
1 e-Bonds are available online to anyone with, or opening, a Nationwide FlexAccount.
RATES FOR FIXED RATE ISA BONDS AND TRACKER ISAs CORRECT AT 13 NOVEMBER 2009
| 3 yr 50+ FRISA (annual) |
AER (%) |
Gross p.a. (%) |
| £1+ |
4.00 |
4.00 |
| 3 yr 50+ FRISA (monthly) |
AER (%) |
Gross p.a. (%) |
| £1+ |
3.97 |
3.90 |
| 6mth FRISA (annual) |
AER (%) |
Gross p.a. (%) |
| £1-£9,999 |
2.21 |
2.20 |
| £10,000-£24,999 |
2.31 |
2.30 |
| £25k+ |
2.41 |
2.40 |
| 6mth FRISA (monthly) |
AER (%) |
Gross p.a. (%) |
| £1-£9,999 |
2.17 |
2.15 |
| £10,000-£24,999 |
2.27 |
2.25 |
| £25k+ |
2.38 |
2.35 |
| 1yr FRISA (annual) |
AER (%) |
Gross p.a. (%) |
| £1-£2,999 |
2.50 |
2.50 |
| £3,000+ |
2.75 |
2.75 |
| 1yr FRISA (monthly) |
AER (%) |
Gross p.a. (%) |
| £1-£2,999 |
2.48 |
2.45 |
| £3,000+ |
2.73 |
2.70 |
| 2yr FRISA (annual) |
AER (%) |
Gross p.a. (%) |
| £1+ |
3.50 |
3.50 |
| 2yr FRISA (monthly) |
AER (%) |
Gross p.a. (%) |
| £1+ |
3.45 |
3.40 |
| 3yr FRISA (annual) |
AER (%) |
Gross p.a. (%) |
| £1+ |
3.75 |
3.75 |
| 3yr FRISA (monthly) |
AER (%) |
Gross p.a. (%) |
| £1+ |
3.71 |
3.65 |
| 5yr FRISA (annual) |
AER (%) |
Gross p.a. (%) |
| £1+ |
4.50 |
4.50 |
| 5 yr FRISA (monthly) |
AER (%) |
Gross p.a. (%) |
| £1+ |
4.49 |
4.40 |
| 2yr Tracker ISA (annual) |
AER (%) |
Gross p.a. (%) |
| £1-£9,999 |
2.00 |
2.00 |
| £10,000-£24,999 |
2.25 |
2.25 |
| £25k+ |
2.50 |
2.50 |
| 2yr Tracker ISA (monthly) |
AER (%) |
Gross p.a. (%) |
| £1-£9,999 |
1.97 |
1.95 |
| £10,000-£24,999 |
2.22 |
2.20 |
| £25k+ |
2.48 |
2.45 |
Fixed Rate ISA Bonds and Tracker ISAs:
- Fixed Rate ISA Bonds and Tracker ISAs may be withdrawn without notice
- All existing Nationwide cash ISA and Tessa Maturity ISA holders can transfer all of their existing Nationwide ISA balances into a Fixed Rate ISA Bond or Tracker ISA without affecting their annual ISA subscription limits
- Customers can also add up to £3,600 (or £5,100 depending on age) when opening a Fixed Rate ISA Bond or Tracker ISA if they have not yet used their cash ISA allowance in the current tax year
- The six month Fixed Rate ISA Bond and the one year Fixed Rate ISA Bond can be closed at any time subject to the loss of 90 days' interest. The two year Fixed Rate ISA Bond can be closed at any time subject to the loss of 180 days' interest. The three year Fixed Rate ISA Bond and three year 50+ Fixed Rate ISA Bond can be closed at any time subject to the loss of 270 days' interest. The five year Fixed Rate ISA Bond can be closed at any time subject to the loss of 365 days' interest. The Tracker ISA can be closed at any time subject to 30 days' notice or loss of interest
- Once open, no additional deposits are allowed
- No part withdrawals allowed
- All Nationwide cash ISAs accept transfers-in from existing cash ISAs held with another provider
- The two year Tracker ISA has a minimum opening balance of £100
