Nationwide launches new one-year fixed term ISA

Friday, 04 November 2011 04:09

Nationwide Building Society has launched a new one-year fixed rate cash ISA that pays between 3.00 and 3.25 per cent interest depending on the balance of the account.
It replaces Nationwide’s 14-month Fixed Rate ISA which was withdrawn yesterday (Thurs 3rd November).

Nationwide will pay three per cent on balances between £1 and £9,999, 3.10 per cent for balances between £10,000 - £24,999, 3.20 per cent on balances between £25,000 - £49,999 and 3.25 per cent on balances above £50,000.

The rates on Nationwide's three-year Fixed Rate ISA remain the same and are between 3.20 for balances of between £1 and £9,999 and 3.50 per cent for balances in excess of £50,000.

The interest can be paid monthly or annually and the changes to the rate of interest mean that Nationwide’s ISA range now matches the rates of interest attached to their equivalent bonds.

Richard Marriott, Nationwide's head of savings, said: "It is important that all savers make use of their full ISA allowance. One way savers could make good use of that allowance is to take advantage of the fixed rate cash ISA products available. With the launch of this one-year option, Nationwide offers a competitive range of fixed rate products paying up to 3.50% with a choice of one and three-year options to meet the differing needs of savers."

Find the best deal on a new ISA using the Myfinances.co.uk comparison tools.
 

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