One of the country’s biggest building societies has launched a new wave of savings accounts and ISAs with “higher rates” attached to them.
Nationwide Building Society
Richard Stocker, Nationwide’s head of Savings, said: “We’re pleased to launch new higher rates on our fixed rate cash ISAs and bonds, while continuing to ensure customers can access the same rates whether they open their account online or in branch.
“With the UK’s largest branch network, backed by our Branch Promise, we’re committed to ensuring customers who prefer face-to-face service aren’t disadvantaged.
Nationwide is offering news savings accounts to customers
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GETTY
“Many of our branch-accessible products are among the highest-paying available from a major high street provider, reflecting our commitment to combining choice, value and support for savers.”
Since the Covid-19 pandemic, savers have benefited from a period of high interest rates thanks to decision-making from high street banks and building societies.
In response to inflationary pressure, central banks across the world have raised the cost of borrowing in an effort to bring the consumer price index (CPI) rate down.
During the height of the UK’s financial woes, the Bank of England’s Monetary Policy Committee (MPC) hiked the base rate to 5.25 per cent but this has since fallen to 3.75 per cent.
The base rate will remain at 3.75 per cent, according to the Bank of England’s MPC | GETTY/ GB NEWS / BANK OF ENGLAND
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Here is a full list of the new fixed rate bonds on offer from Nationwide Building Society:
- One-year fixed-rate cash ISA – 4.40 per cent AER/tax-free (fixed)
- Two-year fixed-rate cash ISA – 4.50 per cent AER/tax-free (fixed)
- Three-year fixed-rate cash ISA – 4.65 per cent AER/tax-free (fixed)
- Five-year fixed-rate cash ISA – 4.70 per cent AER/tax-free (fixed)
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Here is a full list of the new fixed-rate bonds from Nationwide Building Society:
- One-year fixed-rate branch bond – 4.25 per cent AER/gross a year (fixed)
- Two-year fixed-rate branch bond – 4.30 per cent AER/gross a year (fixed)
- Three-year fixed-rate branch bond – 4.60 per cent AER/gross a year (fixed)
- Five-year fixed-rate branch bond – 4.65 per cent AER/gross a year (fixed)
- One-year fixed-rate online bond – 4.25 per cent AER/gross a year (fixed)
- Two-year fixed-rate online bond – 4.30 per cent AER/gross a year (fixed)
- Three-year fixed-rate online bond – 4.60 per cent AER/gross a year (fixed)
- Five-year fixed-rate online bond – 4.65 per cent AER/gross a year (fixed)