Budget & Saving

Nationwide to raise savings rates

The interest rates on four different types of savings products will be increased by a quarter of a percentage point by Nationwide Building Society.

Customers will be able to take advantage of the increased rates of its fixed-rate ISA, tracker bond and tracker e-bond, e-bond and fixed-rate bond.

Nationwide will continue to make sure its fixed-rate cash ISA rates match the equivalent bond rates, something the mutual has been doing since February.

The rates of the four different savings vehicles will be between 2.75% and 3% p.a./AER after the rise.

Robin Bailey, Nationwide's director for savings, said: "Nationwide's interest rate increase on these products is good news for savers who are looking to maximise the return on their money. In the current climate, it is important to cater for a variety of savings needs, which is why Nationwide offers a competitive range of Fixed Rate Bonds and ISAs over a variety of different terms from one to five years."

Rates remain unchanged on Nationwide's two, three and five-year fixed-rate bonds and e-bonds, on its three and five-year fixed-rate ISAs, and on its one and three-year combination savings bonds.

Sam Jackson

Money Dashboard