Nationwide presents 3.75% online savings rate

Thursday, 11 December 2008 12:00

Nationwide has launched a new internet savings account for savers who require occasional access to their funds.

The e-Savings Plus account pays up to 3.75 per cent interest gross per annum/AER and is run via Nationwide's FlexAccount.

Savers require only £1 to open the account, but the balance must not exceed £100,000.

Account-holders can make up to three withdrawals per year without forfeiting the rate, but any more will mean interest will be deducted.

Nationwide said the account, which is opened and managed through its internet bank, is aimed at customers who want to recieve a competitive rate and access their money if they need to.

Matthew Carter, director of savings at the building society, said: "The addition of this new product to our range of online accounts gives savers even more choice as they can now choose to save their money online in an account which offers them both flexibility and a good return."

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