12 Aug 2022

Product update: Fixed Rate Bonds & ISAs

Nationwide Building Society is today increasing the rate on its one and two year Fixed Rate Bonds and launching a new five year Fixed Rate Online Bond.

The new rates are:

  • One Year Fixed Rate Bond/Online Bond – 2.35% AER/gross p.a. (fixed)
  • Two Year Fixed Rate Bond/Online Bond – 2.70% AER/gross p.a. (fixed)
  • Five Year Fixed Rate Online Bond – 3.00% AER/gross p.a. (fixed)

The rates, which are the highest from a major high street provider1, are available for balances of £1 or more. Members can open the One and Two Year Fixed Rate Bonds in branch, while the Online Bonds can be opened online through the website, via Nationwide’s Internet Bank or Banking app.

At the same time, the Society will also be withdrawing its Member Online Bond and one and two year Fixed Rate ISAs.

- Ends -

Notes to editors

Notes to Editors:

1 Source: Moneyfacts.co.uk – Best 1 Year Fixed Rate Bonds Up To 3.20% Fixed | moneyfacts.co.uk,  Best 2 Year Fixed Rate Bonds up to 3.30% Fixed | moneyfacts.co.uk and Best 5 Year Fixed Rate Bonds up to 3.45% Fixed | moneyfacts.co.uk  - correct as at 9.8.22

 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.