Nationwide Isa launched with 4.25% four-year fixed-rate

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Nationwide Isa launched with 4.25% four-year fixed-rate

Fri 26th Mar 2010

Andy Hutchinson, head of savings for the bank, said it would replace the current three-year Isa in order to help the company operate sensibly during the "Isa season".

He added: "This will help us to ensure we can continue to manage the inflow of business prudently … while at the same time offering our customers good deals on their savings."

The new offering is an addition to the current Champion and e-Isa products within the instant access, online and cash Isa range and will continue to match the various customer needs and requirements.

However, Barclays recently found that 71 per cent of consumers did not think they had the money to invest in a cash Isa.

It was revealed that 13 per cent of people did not understand what such an account was, while 11 per cent believed their money would be unavailable for withdrawal after they had invested.

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