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Nationwide raises savings rates, launches new bond

30 August 2006
From Friday, September 1st Nationwide Building Society is launching a new two-year Loyalty Tracker bond at the same time as increasing its savings rates on several of its other investment products.

The new bond will pay interest from 4.55 per cent to 4.75 per cent gross per annum, depending on the level of investment, and the rate will track the Bank of England's (BoE) base rate. A monthly interest payment option is also available.

Nationwide savers with variable interest rates on e-Savings, Monthly Income 65+, Smart and Cash Child Trust Fund accounts will see an increase in their rates of 0.25 per cent, equal to the increase in the BoE base rate.

The building society claims it specialises in savings accounts that are "simple, straightforward and easy to understand" and offers some of the "best rates…on the high street".

Nationwide maintains that, with the adjustments, its rates will remain on average 0.35 per cent better than its high street competitors.

To read more about investment, click here.

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