Nationwide: Bigger balances on e-saver

Principality drops e-saver rate

Principality Building Society has reduced variable rate on its e-saver account to 1.65 per cent.
Birmingham Midshires cuts e-saver rate

Birmingham Midshires has lowered the variable rate on its e-saver account to 1.84 per cent.

Tuesday, 08 September 2009 12:00

Nationwide's e-Saving Plus account customers can now stash more cash away because the building society has increased the maximum balance.

Savers can now hold up to £3 million in the account, which was launched last December and is now providing a home to the savings of over 150,000 customers.

The account can be opened with a minimum of £1 and customers are allowed to make unlimited deposits, provided the balance does not top £3 million.

And if customers make three withdrawals or fewer and keep the account open for more than a year they will receive t he full two per cent interest on their savings.

Andy Hutchinson, head of savings at Nationwide, said: "The e-Savings Plus account allows savers who do not need regular access to their savings to benefit from a competitive rate that lasts.

"As the account has been so popular, we're pleased to be able to increase the maximum balance."

The account is run via the Nationwide FlexAccount and is opened and managed through the building society's internet bank.