Nationwide savings rate boost

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Nationwide savings rate boost

Tue 29th Aug 2006

Nationwide Building Society has announced that it will increase its savings rates for customers from Friday September 1st 2006.

All Nationwide savers with variable rate accounts will see an increase in their savings rates, with e-Savings, Monthly Income 65+, Smart and Cash Child Trust Fund rates all increasing by 0.25 per cent.

The building society says its rates will remain on average 0.35 per cent better than those of its high street competitors.

From the same date Nationwide will also launch a new two year Loyalty Tracker Bond to reward its long-term members.

The bond has tiered interest rates paying between 4.55 per cent gross per annum AER and 4.75 per cent gross per annum AER depending on the amount invested.

The interest rate is variable and the annual interest rates will track the movements in the Bank of England base rate providing the reassurance of a competitive rate over the two-year term, Nationwide said.

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