Nationwide gives bond rates a boost

Nationwide raises rates on most fixed and tracker savings accounts

Nationwide has increased its rates of return on a whole range of its savings products.
Nationwide increases bond rates

Rates on one year e-bond, tracker bond, fixed-rate bond, fixed-rate ISA and tracker e-bond products offered by Nationwide Building Society have increased by up to 0.25 per cent.

Thursday, 14 January 2010 12:00

Nationwide is increasing the interest rate on three of its fixed-rate savings bonds and e-bonds.

From tomorrow it is offering a three-year fixed-rate bond with interest of up to 4.7 per cent gross per annum for customers with balances of more than £25,000.

Its two-year fixed-rate bond has also undergone a rate hike and will now pay interest of up to 4.1 per cent for balances of £25,000 plus.

And its 18-month fixed-rate bond now has a rate of 3.5 per cent. This applies to balances of over £10,000.

These rate increases apply to the e-bond versions of the three, two-year and 18-month bonds as well.

Andy Hutchinson, head of savings at Nationwide, said: "Our most recent research from the Nationwide Savings Index shows that a quarter of consumers are not saving any money at all, so hopefully this increase in interest rates will go some way to encouraging consumers to save."

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