On 5 March, Nationwide Building Society will launch a new issue of its Triple Access Online ISA paying an increased rate.
The new rate of interest, which is one of the highest available from a major high street provider, is:
- Triple Access Online ISA – 0.40% AER/tax-free for 12 months
The instant access account allows three withdrawals during the 12-month term. Subsequent withdrawals will lower the interest rate to 0.01% for the remainder of that period. After 12 months, the variable rate account reverts to an instant access cash ISA.
The account can be opened and managed online via the website, Internet Bank and Mobile Banking App. The account has a minimum operating balance of £1 and accepts transfers in, so members can transfer balances from another provider to benefit from the increased rate.
The Society will also be launching a new version of its Triple Access Online Saver paying 0.40% AER/gross for 12 months.
Previous versions of the Triple Access Online ISA and Saver will be withdrawn from sale at close of business on 4 March 2021.
Tom Riley, Director of Banking & Savings at Nationwide Building Society said: “Many savers will wait until the end of the tax-year to fully utilise their ISA allowance. We know many savers like to put their money away with a brand that they know and trust and our latest increase sees us offering one of the highest rates on the market from a major high-street provider.”