Nationwide fixed-rate bonds launched

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Nationwide fixed-rate bonds launched

People looking to put some money aside might be tempted by a new range of fixed-rate bonds that have been launched by Nationwide.

To mark the building society's merger with Portman, Nationwide is offering a fixed interest rate of 6.7 per cent on its one-year loyalty fixed-rate bond and one-year fixed-rate e-bond.

Customers can also take out a one-year fixed-rate bond that pays at a rate of 6.6 per cent. All three offerings are available to existing and new customers and offer guaranteed returns.

"It has been over seven and a half years since we offered a bond paying such a high rate, so we are expecting this to be very popular with new and existing members alike," said Matthew Carter, Nationwide's savings director.

Last month, Nationwide set the authorised rate on all of its overdrafts at a competitive 9.9 per cent AER, available to customers without having to pay an arrangement fee.

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