Nationwide launches market leading fixed rate bond
15/01/2010
Andy Davies
Nationwide has announced it will increase interest rates on several of its fixed rate bond deals including a market leading rate of 4.70 per cent AER for a three year fix.
From today, savers who deposit £25,000 or more into Nationwide's three year fixed rate bond or e-Bond can enjoy a return of 4.70 per cent AER, while its two year option will pay up to 4.10 per cent AER.
Meanwhile, for savers who are looking for a more short-term savings solution, Nationwide has reissued its 18-month fixed rate bond and e-Bond, which will pay up to 3.50 per cent AER on balances of £10,000 or more.
Commenting, Andy Hutchinson, head of savings at Nationwide said: "The increase in interest rates on a number of our Fixed Rate Bonds and e-Bonds is great news for those who have made it their New Year resolution to save more in 2010.
"In particular, our market leading three year bonds are an attractive option, though we also offer competitive rates for terms between six months and five years to suit a variety of needs."
Following the findings from Nationwide's monthly Savings Index – published this week, which revealed that a quarter of people are not saving anything at all, Mr Hutchinson said he hoped these interest rates increases "will go some way to encouraging consumers to save".
© Fair Investment Company Ltd
