Nationwide fixed-rate bonds undergo rate increase

www.moneynews.co.uk > Banking > Nationwide fixed-rate bonds undergo rate increase

Nationwide fixed-rate bonds undergo rate increase

Tue 7th Jul 2009

Nationwide Building Society has announced that the interest rates on its selection of fixed-rate bonds is to increase.

From today, its five-year fixed-rate bond pays up to five per cent gross per annum AER, its three-year bond will offer 4.25 per cent and, as for its two-year fixed-rate bond, this figure stands at 4.05 per cent.

Changes also affect its 18-month and one-year fixed-rate bonds.

Nationwide has also introduced a range of new e-bonds, which range from one year to five years in duration and offer from 3.5 per cent interest per annum to five per cent.

"At a time when the base rate remains at a historic low of 0.5 per cent, the society's rate increase on a number of its bonds is good news for those looking for a guaranteed interest rate," explained head of savings at Nationwide Andy Hutchinson.

Nationwide is the third-largest mortgage lender and second-largest provider of savings in the UK.

Click here for more banking news

Related News : Banking
	Young people 'should be taught to save'
	Families 'should plan for their children's future
	Switching bank accounts 'not as easy as banks portray'
	Brits facing finance difficulties 'should talk to their bank'
	Brits 'should utilise Isa allowances'
	Brits advised on investment options
	Children 'should be given bank accounts at 16'
	Falling inflation 'could help Brits save'
	Money worries 'are mounting for many'
	Contactless payment 'is secure and convenient'

Related News : Nationwide
	Nationwide launches new credit card reward scheme
	ICB report recommends easier current account switching
	Mortgages are cheaper than two years ago, claims study
	Students fail to take out insurance 'due to apathy'
	Demand for fixed rate mortgages 'increases in economic uncertainty'
	Nationwide reduces rates on five-year fixed mortgages
	Intermediary mortgage lending 'increases for second quarter'
	Nationwide improves mortgage products for intermediaries
	Nationwide reduces fixed mortgage rates
	NLA survey reveals landlords jittery over possible rate increases