12 May 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 (12 May). The new rates of interest on the following accounts are as follows:

  • 1 Year Triple Access Online ISA – 0.60% tax free / AER 2
  • 1 Year Triple Access Online Saver – 0.50% gross / AER1 2

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.

Previous versions of the Triple Access Online accounts were withdrawn from sale at close of business on 11 May 2020.

Notes to editors

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.