27 March 2017
Nationwide Building Society has launched a new online issue of its Limited Access Saver.
The rate for annual interest on balances of £1 or more will be 0.50% AER tax-free (variable).
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.
Customers can make 5 instant access withdrawals per annum. On the sixth withdrawal, the interest rate reduces to 0.10% gross p.a/AER for the remainder of the account year. New and existing customers can withdraw money electronically to a nominated account, which can be any UK current account or Nationwide savings account held in the account holder(s) name.
Further details on all Nationwide’s Savings Promises can be found at: http://www.nationwide.co.uk/support/support-articles/services/savings-promises