17 January 2020
On 17 January, Nationwide Building Society will launch a new issue of its Triple Access Online Saver/ISA.
The new rates of interest are:
- Triple Access Online Saver – 0.90% AER/gross for 12 months
- Triple Access Online ISA – 0.90% AER/tax-free for 12 months
After 12 months, the variable rate account reverts to 0.75% AER/gross (ISA – AER/tax-free). The instant access account allows three withdrawals in each 12-month period following account opening. Subsequent withdrawals will lower the interest rate to 0.10% for the remainder of that period.
The account can be opened and managed online via the website, Internet Bank and Mobile Banking App. Saver can invest up to £5 million in the account, which has a minimum operating balance of £1. The Triple Access Online ISA accepts transfers in, so savers can transfer existing ISA balances from other providers.
Previous versions of the Triple Access Online Saver/ISA were withdrawn from sale at close of business on 16 January 2020.
Notes to Editors:
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Gross p.a. is the interest rate without tax deducted. Tax-free is the contractual rate of interest payable where interest is exempt from income tax.