08 Jul 2022

Nationwide launches new issue of its Triple Access Online Saver paying a highly competitive 1.40%

  • New issue of 1 Year Triple Access Online Saver launched paying an increased rate
  • Nationwide is also increasing rates on one and two year fixed rate products
  • Society also increasing rates on off-sale Loyalty accounts from 1 August

Nationwide Building Society is launching a new issue of its 1 Year Triple Access Online Saver paying a highly competitive1 1.40% AER/gross per annum (variable) for 12 months.

The account allows three withdrawals during the 12-month term. Subsequent withdrawals will revert the interest rate to 0.10% for the remainder of the period. After 12 months, the account automatically switches to one of Nationwide’s instant access accounts2.

Fixed Rate products

Nationwide is also launching new issues of its one and two-year fixed rate ISAs, Bonds and Online Bonds3.

The new rates are:

  • 1 Year Fixed Rate ISA – 1.40% AER/tax-free (fixed)
  • 1 Year Fixed Rate Bond/Online Bond – 1.40% AER/gross per annum (fixed)
  • 2 Year Fixed Rate ISA – 1.70% AER/tax-free (fixed)
  • 2 Year Fixed Rate Bond/Online Bond – 1.70% AER/gross per annum (fixed)

Loyalty accounts

 

Existing members saving in Loyalty Saver, Loyalty ISA and Loyalty Single Access ISA accounts will see rates rise by 0.25% to 1.25% gross/AER from 1 August 2022.

Tom Riley, Director of Banking and Savings at Nationwide Building Society, said: “Many savers like to place at least some of their savings in an instant access account to give them piece of mind that they can access the funds should they need to. The new issue of our Triple Access Saver account pays one of the highest rates on the market and will appeal to those looking to save with a brand they know and trust. We always look to offer a wide range of accounts to suit the different needs of our members, which is why we have also increased rates for those who don’t need immediate access and want to save in a fixed rate bond or ISA.”

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Notes to editors

Notes to Editor:

 1 Source - Easy Access Accounts Best Buys | Find the best rate. Keep the best rate (savingschampion.co.uk)

2 1 Year Triple Access Online Saver can be opened and managed online via the website, Internet Bank and Mobile Banking App and have a minimum operating balance of £1.

3 The rates are available for balances of £1 or more and monthly interest options are available on fixed rate ISAs and bonds (excluding online bonds) for those who prefer to get a regular income from their savings. The Society’s Fixed Rate ISAs also accept transfers in, so people can move ISA balances from other providers or from an existing Nationwide ISA.

Fixed Rate ISAs can be opened via branch, while existing members can also open accounts via Nationwide’s Internet Bank or Banking app. Savers can open Bonds in branch, while Online Bonds can be opened via the website, Internet Bank and Banking app.

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Gross p.a. is the interest rate without tax deducted. Tax-free is the contractual rate of interest payable where interest is exempt from income tax.