21 Apr 2020
New rates on Nationwide's on-sale Triple Access Online accounts
Nationwide Building Society is today launching new issues of its on-sale Triple Access Online savings accounts in response to the changing market.
They will apply to anyone opening these accounts from today (Wednesday 22 April). The new rates of interest on the following accounts are as follows:
- 1 Year Triple Access Online ISA – 0.80%1 2
- 1 Year Triple Access Online Saver – 0.80%1 2
As previously announced, any new and existing members who increase their ISA balance with Nationwide by £100 or more by 30 April will be automatically entered into a prize draw for the chance to win up to £20,000.
There are no current changes to Nationwide’s Start to Save account, which continues to pay 1.00% AER/gross p.a. (variable) and offers savers the chance to win £100 through regular prize draws as long as members save between £50 and £100 for three months.
Previous versions of the Triple Access Online accounts were withdrawn from sale at close of business on 21 April 2020.
Notes to editors
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.
1 After 12 months, the variable rate account reverts to a variable rate that will be confirmed ahead of maturity.
2 The easy access account allows three withdrawals in each 12-month period following account opening. Subsequent withdrawals will lower the interest rate to 0.01% for the remainder of that period.
The Triple Access accounts can be opened and managed online via the website, Internet Bank and Mobile Banking App. Savers can invest up to £5 million in the account, which has a minimum operating balance of £1.
The 1 Year Triple Access Online ISA accepts transfers in, so savers can transfer existing ISA balances from other providers.