24 February 2017
Nationwide has enhanced its savings range by introducing new three and five year Fixed Rate Bonds and Fixed Rate ISAs (FRISA).
The accounts offer highly competitive rates of interest and the Society is the only major high street provider to offer a five year Bond/FRISA.
The new rates for annual interest are:
- Three Year Fixed Rate Bond - 1.00% gross/AER
- Three Year Fixed Rate ISA – 1.00% AER/tax-free
- Five Year Fixed Rate Bond - 1.50% gross/AER
- Five Year Fixed Rate ISA – 1.50% AER/tax-free
The rates are available for balances of £1 or more and monthly interest options are available on all Bonds/FRISAs for those who prefer to get a regular income from their savings. The FRISAs also accept transfers in, so customers can move ISA balances from other providers.
The accounts can be opened in branch while existing members can also open the account online or via the Nationwide mobile banking app. For customers who want a shorter term product, the Society also has a range of competitive one and two year Fixed Rate Bonds and FRISAs.
Tom Riley, Nationwide’s Head of Savings, said: “We know many of our members like the reassurance of a guaranteed interest rate over a longer period of time so they don’t need to keep moving their money.
“The launch of our new three and five year Fixed Rate Bonds and ISAs means we have a full range of terms available for those savers who prefer to put away their money for a set period of time in return for a competitive rate. It is another demonstration of how we continue to offer long term value to our members.”
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.
|Term of bond
||One year or less
|Loss of interest
Full details of all Nationwide’s cash ISAs can be found at: www.nationwide.co.uk/products/isas/isas