Check out the tables above and you can find a variety of ways to protect your cash from fluctuations in interest rates, locking in at a particular rate and see if the features of Nationwide Building Society fixed rate bonds suit your needs:
The features that you get with Nationwide fixed rate bonds include:
- Bonds from 6 months to 5 years
- Fixed interest rate for the term of the bond
- Interest paid monthly or annually
- No withdrawals allowed during the term or additional deposits
- Invest from £1 to £5,000,000
- Choice of opening an online or in-branch bond
- You can have multiple bonds as long as the combined total savings does not exceed £5,000,000
Before you decide if Nationwide fixed rate bonds are right for you, compare them with features of other deals around at the moment to make sure you're getting the most out of your money.
Other types of plan you may wish to think about
- Tracker bonds – Tracker bonds share many features with Fixed rate, the key difference is that the rate of interest on the bound will vary over the course subject to changes made the Bank of England Base Rate. This means if the base rate improves during your bond term you will start to receive higher interest payments, however you are at risk that if the base rate decreases you will receive a lower interest rate.
- Structured Deposits – Structured deposits also require you to invest your money in the plan for a set period of time. However you return is not guaranteed, this type of plan is normally linked to a index or indices, such as the FTSE 100. Your return is dependent on how that index performs over the period. If it performs in the way stated by the structured deposit you will receive your original deposit back plus interest on it, at usually a better rate than you would receive with a bond. However if the index performs in a different way than the plan states you will get your original sum back but receive no interest payment on it.
- Savings Account – An instant access savings account may be a better choice for people who feel they cannot tie up their money for a set period of time. Although instant access savers usually offer lower interest payments than bonds and structured deposits they usually allow you to make withdrawals at any time without any sort of a penalty. This therefore might be a good solution for people who feel they may need to access then savings quickly.