Nationwide Building Society launches new ‘competitive’ savings interest rates

Nationwide Building Society has announced a wave of new interest rate changes across its range of savings accounts.

The financial institution has launched new issues of its Fixed Rate Online Bonds, Fixed Rate Branch Bonds and Fixed Rate ISAs.

This comes after a year of interest rate rises following the Bank of England’s decision to hike the base rate.

Central banks have raised their respective countries’ base rates in an attempt to rein in inflation.

With inflation easing, experts are warning that favourable interest rates may no longer continue.

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Thanks to the base rate increases, savers have benefitted while mortgage holders and debt borrowers have been detrimentally affected.

Despite the fear of high savings interest rates going away, Nationwide is still offering “competitive” interest rates to its customers.

Some of the products available provide the building society’s members with interest rates close to five percent.

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Here is a full list of the new issues of Nationwide’s Fixed Rate Online Bonds, Fixed Rate Branch Bonds and Fixed Rate ISA, along with their respective interest rates:

  • One Year Fixed Rate Online Bond – 4.90 percent AER
  • One Year Fixed Rate Branch Bond – 4.90 percent AER
  • One Year Fixed Rate ISA – 4.90 percent AER/tax-free
  • Two Year Fixed Rate Online Bond – 4.75 percent AER
  • Two Year Fixed Rate Branch Bond – 4.75 percent AER
  • Two Year Fixed Rate ISA – 4.75 percent AER/tax-free
  • Three Year Fixed Rate Online Bond – 4.60 percent AER
  • Three Year Fixed Rate Branch Bond – 4.60 percent AER
  • Five Year Fixed Rate Online Bond – 4.50 percent AER
  • Five Year Fixed Rate Branch Bond – 4.50 percent AER.
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It should be noted that these accounts’ interest rates are available for balances of £1 or more.

Customers can open Online Bonds either through the website, Internet Bank or the Banking app while Fixed Rate Branch Bonds can be opened in a Nationwide branch.

The building society’s Fixed Rate ISAs allow transfers and can be opened via the website, Internet Bank, Banking app or by visiting a branch.

All previous Fixed Rate Online Bonds, Branch Bonds and ISAs were withdrawn from sale at the close of business on November 21, 2023.

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