Nationwide launches new fixed-rate savings deals

Thursday, 14 July 2011 01:06

Nationwide is offering its existing customers two new fixed-rate savings products.

The 18-month Loyalty Fixed Rate ISA and 18-month Loyalty Fixed Rate Bond both pay annual interest of 3.30 per cent gross/AER, between 0.30 per cent and 0.55 per cent higher than the current range of equivalent deals.

Both are available to those who have had a minimum of £1 contained in their Nationwide savings account for at least three months prior to their application.

The bond is available to customers aged seven or over, while the cash ISA is available to customers over 16.

Each product has a minimum opening of £1, while the maximum is £5,000 or £10,000 if it is a joint account for the bond and £5,340 for the Loyalty ISA.

Robin Bailey, Nationwide's director for savings, said: "The fixed rate market continues to be a competitive place for savers looking to tie their money in for a fixed period at a rate of interest that won't change.

"The launch of these two accounts provides existing Nationwide savers with an attractive 18-month rate, demonstrating our commitment to offering long-term good value and highlighting our promise to reward existing savers."

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