Nationwide increases rates on savings bonds

The Nationwide Building Society is increasing interest rates on a variety of its fixed rate savings bonds.

The rates are being raised by up to 0.20 per cent on selected savings bonds and e-bonds.

Nationwide are also launching a two-year and three-year fixed rate savings bond which is only available to maturing fixed rate bond customers.

Its six-month fixed rate bond and e-bond will see increased interest rates of between 2.01 and 2.26 per cent, depending on the balance.

Nationwide’s one-year fixed rate bond, e-bond and one-year SMART fixed rate bond will pay between 2.45 and 2.70 per cent, again depending on the balance of the account.

For customers who have a previous bond maturing, Nationwide is increasing the rate on its two-year fixed rate bond to between 2.65 and 2.90 per cent, whilst rates on its three-year fixed rate bond are up to between 2.85 and 3.00 per cent depending on the balance.

Richard Marriott, Nationwide's Head of Savings, said:  "Nationwide's interest rate increase on its six-month and one-year Fixed Rate Bonds is good news for savers who are looking for a guaranteed rate of return in the continued low interest rate environment."