Nationwide has announced adjustments to savings rates in response to the Bank of England Bank Rate decrease of 0.25% on 5 February.
From 1 June it will lower rates by between 0.10%-0.25% on specific savings products. The majority of products will reduce by less than the change in Bank Rate (see rate changes in Notes to Editor).
There will be no changes to Nationwide’s Children’s FlexOne Saver, Flex Regular Saver and Start to Save products.
Nationwide remains committed to offering a competitive alternative to the high street banks that appeals to all types of savers.
Tom Riley, Nationwide’s Director of Retail Products, said: “We have worked hard to limit the impact of the recent rate cut on our savers and have taken the decision to hold off from making changes for as long as possible. We have not made any changes to our Children's FlexOne Saver and those savings which encourage a savings habit. Following these changes, our savings range will remain competitive and continue to pay more than the market average, giving savers every reason to put their money with Nationwide."
- Ends -
|
Product Type |
Account |
Previous Headline Rate |
New Headline Rate |
Change |
|
Regular Savings |
Start to Save 2 |
5.50% |
5.50% |
0.00% |
|
Help to Buy |
3.10% |
2.90% |
-0.20% |
|
|
Flex Regular Saver 3 & 4 |
6.50% |
6.50% |
0.00% |
|
|
Continue to Save |
2.10% |
2.00% |
-0.10% |
|
|
Children’s |
FlexOne Saver / FlexOne Regular Saver |
5.00% |
5.00% |
0.00% |
|
Child Trust Fund / Smart Junior ISA/ CTF Maturity ISA / Junior ISA Maturity |
3.55% |
3.55% |
0.00% |
|
|
Smart Limited Access |
3.05% |
2.85% |
-0.20% |
|
|
Future Saver |
3.55% |
3.55% |
0.00% |
|
|
Smart Instant Access / Smart Saver |
2.05% |
1.85% |
-0.20% |
|
|
Limited Access |
1 Year Triple Access Online Saver |
4.00% |
4.00% |
0.00% |
|
1 Year Triple Access Online ISA |
4.00% |
4.00% |
0.00% |
|
|
Reward Single Access ISA |
3.55% |
3.35% |
-0.20% |
|
|
Single Access Saver / Single Access ISA |
3.55% |
3.35% |
-0.20% |
|
|
Limited Access Saver / Limited Access Online Saver |
2.10% |
1.90% |
-0.20% |
|
|
e-Savings Plus |
2.10% |
1.90% |
-0.20% |
|
|
Triple Access Saver / Triple Access ISA |
2.15% |
1.95% |
-0.20% |
|
|
Instant Access |
Flex Instant Saver |
3.00% |
2.75% |
-0.25% |
|
Reward Saver / Reward ISA |
3.50% |
3.30% |
-0.20% |
|
|
Flex ISA / Flex Saver 1 |
1.85% - 2.05% |
1.60% - 1.85% |
-0.20% to -0.25% |
|
|
Instant Access Saver 10 |
2.05% |
1.85% |
-0.20% |
|
|
Instant access savings accounts (e.g. Instant Access Saver, Easy Access ISA, CashBuilder) 2 |
1.80% -2.00% |
1.55% - 1.80% |
-0.20% to -0.25% |
NB: Unless specified, the above rate changes apply to all issue numbers
1 Flex Saver / Flex ISA: £0-£9,999.99 from 1.85% to 1.60%; £10K-£49,999.99 from 1.90% to 1.65%; £50K+ from 2.05% to 1.85%.
2 Instant access savings accounts: £0-£9,999.99 from 1.80% to 1.55%; £10K-£49,999.99 from 1.85% to 1.60%; £50K+ from 2.00% to 1.80%.
