Nationwide's new savings account 'offers guaranteed return'

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Nationwide's new savings account 'offers guaranteed return'

Nationwide has launched a new savings account which offers investors a guarantee they will make a profit.

Earlier this week (December 15th 2010), the financier released its Lifetime Guarantee 1 fixed-rate personal savings account.

Customers who sign up to the new product will be able to receive a rate of 3.25 per cent fixed annual interest if they have more than £50,000 in the account for the first year.

After this period, it links to the Bank of England base rate.

Managing director of Nationwide International Carl Gandy said: "Accounts such as the Lifetime Guarantee 1 could prove ideal for those wanting a guaranteed return on their investments."

This comes after the financer increased figures on some of its products, including its fixed-rate Isa, by up to 0.25 per cent last month.

Director of savings at the firm Robin Bailey said at the time that this will come as "good news for savers", adding that it will allow them to maximise the return on their cash.

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