Nationwide unveils new interest rates for savings products

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Nationwide unveils new interest rates for savings products

Tue 8th Sep 2009

Nationwide Building Society has revealed the new interest rates for their one-year term Fixed-Rate, Guaranteed Savings and e-Bond.

Both the Fixed-Rate and e-Bond products will pay three per cent for balances below £10,000 and 3.25 per cent for amounts above that.

Andy Hutchinson, head of savings at the building society, described it as good news for savers who want a guaranteed return on their investment in this low-rate climate.

He added: "We continue to cater for a variety of savings needs by offering a competitive range of bonds, including Fixed Rate ISA Bonds, and terms range from six months to five years."

Meanwhile, the Guaranteed Savings Bond will change to 4.25 per cent interest for balances over £10,000, but it must be bought alongside a six-year Legal & General Capital Guaranteed Multi-Index Equity Bond.

For balances under £10,000, the interest rate remains at four per cent.

This week, the organisation also increased the maximum balance on its e-Savings Account to £3 million.

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