Nationwide boosts Champion Saver rate

Wednesday, 06 January 2010 12:00

Nationwide has increased the interest rate on its Champion Saver account to 2.69 per cent.

The building society has raised the interest for customers with balances of £1,000 or more in the account, which promises to offer a competitive rate.

This is because it tracks the average rate offered by the top five paying branch-based instant access, limited access and notice accounts among eight of Nationwide's competitors.

And the rate also includes a 1.1 per cent bonus until January 31st, 2011.

Andy Hutchinson, head of savings at Nationwide, said: "Champion Saver offers peace of mind to customers who don't want to have to keep looking around for the best rates, as it takes care of this for them, by researching the best savings rates from key providers."

If the rates from the top five competitors change at any time, Nationwide adjusts its rates accordingly.

A minimum of £1,000 is required to open the account. Customers must give 60-days' notice to access their savings. Alternatively they will lose 60-days worth of interest on the amount withdrawn.

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