Nationwide International savings rates cut

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Nationwide International savings rates cut

Thu 1st May 2008

Nationwide International has announced that it will cut savings rates on almost all its sterling accounts by between 0.25 per cent and 0.3 per cent.

All of its US dollar and euro savings accounts will remain at the same level.

The building society's Lifetime Guarantee account will be a rate increase of 0.2 per cent, taking it to 6.4 per cent gross per annum for the first year.

In addition, its Base Rate Tracker Premium account will receive a 0.15 per cent rate increase.

Yesterday both Abbey and Alliance & Leicester announced that they would be making similar cuts to their savings rates.

Abbey said it will reduce the rates on a number of its variable savings accounts by 0.25 per cent, with its Instant Access Saver, ESaver Direct, 50 Plus Saver ,and Super 50 Plus accounts exempt from the changes.

Alliance & Leicester took the same decision, but left rates on its eSaver, Premium Regular Saver, Premier Isa and Premier Isa 2 accounts intact.

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