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Nationwide Announces New Tax Year Fixed Interest Bonds and ISA's

Personal_Finance / Savings Accounts Apr 10, 2009 - 04:58 PM GMT

By: Nationwide

Personal_Finance Best Financial Markets Analysis ArticleNationwide Building Society announces details of a new range of Fixed Rate Bonds, e-Bonds and Fixed Rate ISA Bonds, which all offer a guaranteed rate of return for savers. With effect from Thursday 9 April 2009, Nationwide’s bond range will include:


  • One year e-Bond* paying up to 3.20% gross p.a. / AER;
  • Six month e-Bond* paying up to 2.85% gross p.a. / 2.87% AER;
  • One year Fixed Rate Bond paying up to 3.10% gross p.a. / AER;
  • Six month Fixed Rate Bond paying up to 2.75% gross p.a. / 2.77% AER;
  • Six month Fixed Rate ISA Bond paying up to 2.80% gross p.a. / 2.82% AER.

Nationwide’s bond range includes terms from six months to five years, including a highly competitive five year Fixed Rate Bond paying up to 4.15% gross p.a. / AER. Nationwide continues to offer a variable rate one year Tracker Bond, which is guaranteed to beat the Bank of England Base Rate by at least 2.05% and the recently launched two year Tracker ISA, which is guaranteed to pay up to 2.00% above the Bank of England Base Rate.

Andy McQueen, Nationwide’s mortgages and savings director, said: “Nationwide is committed to savers and we continue to offer a range of bonds and ISA bonds that provide a guaranteed rate of return. Nationwide offers plenty of choice for savers with other bonds available for terms between six months and five years. With the Base Rate being at a record low of only 0.50% and inflation falling, our bond range gives savers a chance to benefit from both a competitive and a guaranteed rate of return.

“We’ve now entered a new tax year so I urge savers to deposit funds into an ISA as soon as possible to get maximum benefit. Nationwide offers a wide range of fixed and variable rate ISAs, including a new six month product that pays up to 2.80% and the recently launched two year Tracker ISA paying up to 2.50%.”

The current six month and one year Fixed Rate Bond and six month and one year e-Bond will be withdrawn at the close of business on 8 April 2009. The rates for all other Fixed Rate Bonds, Fixed Rate ISA Bonds and e-Bonds remain unchanged.

Notes:

*e-Bonds are available online to anyone with, or opening, a Nationwide FlexAccount.

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

ALL RATES FOR FIXED RATE BONDS EFFECTIVE FROM 9 APRIL 2009

Fixed Rate Bonds (FRB)

Product/Tier

 

6 mth FRB (annual)**

AER

Gross p.a.

Net p.a.

£1 - £9,999 2.52% 2.50% 2.00%
£10,000 -£24,999 2.57% 2.55% 2.04%
£25,000 - £49,999 2.67% 2.65% 2.12%
£50,000+ 2.77% 2.75% 2.20%
6 mth FRB (monthly)** AER Gross p.a. Net p.a.
£1 - £9,999 2.48% 2.45% 1.96%
£10,000 - £24,999 2.53% 2.50% 2.00%
£25,000 - £49,999 2.63% 2.60% 2.08%
£50,000+ 2.73% 2.70% 2.16%
1 yr FRB (annual)** AER Gross p.a. Net p.a.
£1 - £9,999 2.85% 2.85% 2.28%
£10,000 - £24,999 2.90% 2.90% 2.32%
£25,000 - £49,999 3.00% 3.00% 2.40%
£50,000+ 3.10% 3.10% 2.48%
1 yr FRB (monthly)** AER Gross p.a. Net p.a.
£1 - £9,999 2.84% 2.80% 2.24%
£10,000 - £24,999 2.89% 2.85% 2.28%
£25,000 - £49,999 2.99% 2.95% 2.36%
£50,000+ 3.09% 3.05% 2.44%
2 yr FRB (annual) AER Gross p.a. Net p.a.
£1 - £9,999 3.00% 3.00% 2.40%
£10,000 - £24,999 3.05% 3.05% 2.44%
£25,000 - £49,999 3.15% 3.15% 2.52%
£50,000+ 3.25% 3.25% 2.60%
2 yr FRB (monthly) AER Gross p.a. Net p.a.
£1 - £9,999 2.99% 2.95% 2.36%
£10,000 - £24,999 3.04% 3.00% 2.40%
£25,000 - £49,999 3.14% 3.10% 2.48%
£50,000+ 3.25% 3.20% 2.56%
3 yr FRB (annual) AER Gross p.a. Net p.a.
£1 - £9,999 3.25% 3.25% 2.60%
£10,000 - £24,999 3.30% 3.30% 2.64%
£25,000 - £49,999 3.40% 3.40% 2.72%
£50,000+ 3.50% 3.50% 2.80%
3 yr FRB (monthly) AER Gross p.a. Net p.a.
£1 - £9,999 3.25% 3.20% 2.56%
£10,000 - £24,999 3.30% 3.25% 2.60%
£25,000 - £49,999 3.40% 3.35% 2.68%
£50,000+ 3.45% 3.40% 2.72%
5 yr FRB (annual) AER Gross p.a. Net p.a.
£1+ 4.15% 4.15% 3.32%
5 yr FRB (monthly) AER Gross p.a. Net p.a.
£1+ 4.13% 4.05% 3.24%

**Available from 9 April 2009.

e-Bonds

Product/Tier

 

6 mth e-Bond (annual)**

AER

Gross p.a.

Net p.a.

£1 - £9,999 2.62% 2.60% 2.08%
£10,000 - £24,999 2.67% 2.65% 2.12%
£25,000 - £49,999 2.77% 2.75% 2.20%
£50,000+ 2.87% 2.85% 2.28%
6 mth e-Bond (monthly)** AER Gross p.a. Net p.a.
£1 - £9,999 2.58% 2.55% 2.04%
£10,000 - £24,999 2.63% 2.60% 2.08%
£25,000 - £49,999 2.73% 2.70% 2.16%
£50,000+ 2.84% 2.80% 2.24%
1 yr e-Bond (annual)** AER Gross p.a. Net p.a.
£1 - £9,999 2.95% 2.95% 2.36%
£10,000 - £24,999 3.00% 3.00% 2.40%
£25,000 - £49,999 3.10% 3.10% 2.48%
£50,000+ 3.20% 3.20% 2.56%
1 yr e-Bond (monthly)** AER Gross p.a. Net p.a.
£1 - £9,999 2.94% 2.90% 2.32%
£10,000 - £24,999 2.99% 2.95% 2.36%
£25,000 - £49,999 3.09% 3.05% 2.44%
£50,000+ 3.20% 3.15% 2.52%
2 yr e-Bond (annual) AER Gross p.a. Net p.a.
£1 - £9,999 3.10% 3.10% 2.48%
£10,000 - £24,999 3.15% 3.15% 2.52%
£25,000 - £49,999 3.25% 3.25% 2.60%
£50,000+ 3.35% 3.35% 2.68%
2 yr e-Bond (monthly) AER Gross p.a. Net p.a.
£1 - £9,999 3.09% 3.05% 2.44%
£10,000 - £24,999 3.14% 3.10% 2.48%
£25,000 - £49,999 3.25% 3.20% 2.56%
£50,000+ 3.35% 3.30% 2.64%
3 yr e-Bond (annual) AER Gross p.a. Net p.a.
£1 - £9,999 3.35% 3.35% 2.68%
£10,000 - £24,999 3.40% 3.40% 2.72%
£25,000 - £49,999 3.50% 3.50% 2.80%
£50,000+ 3.60% 3.60% 2.88%
3 yr e-Bond (monthly) AER Gross p.a. Net p.a.
£1 - £9,999 3.35% 3.30% 2.64%
£10,000 - £24,999 3.40% 3.35% 2.68%
£25,000 - £49,999 3.45% 3.40% 2.72%
£50,000+ 3.56% 3.50% 2.80%
5 yr e-Bond (annual) AER Gross p.a. Net p.a.
£1+ 4.15% 4.15% 3.32%
5 yr e-Bond (monthly) AER Gross p.a. Net p.a.
£1+ 4.13% 4.05% 3.24%

**Available from 9 April 2009.

Fixed Rate ISA Bonds (FRISA)

Product/Tier

 
6 mth FRISA (annual)** AER Gross p.a.
£1+ 2.82% 2.80%
6 mth FRISA (monthly)** AER Gross p.a.
£1+ 2.78% 2.75%
1yr FRISA (annual) AER Gross p.a.
£1+ 3.00% 3.00%
1yr FRISA (monthly) AER Gross p.a.
£1+ 2.99% 2.95%
2yr FRISA (annual) AER Gross p.a.
£1+ 3.00% 3.00%
2yr FRISA (monthly) AER Gross p.a.
£1+ 2.99% 2.95%
3yr FRISA (annual) AER Gross p.a.
£1+ 3.25% 3.25%
3yr FRISA (monthly) AER Gross p.a.
£1+ 3.25% 3.20%
4yr FRISA (annual) AER Gross p.a.
£1+ 2.75% 2.75%
4yr FRISA (monthly) AER Gross p.a.
£1+ 2.73% 2.70%

**Available from 9 April 2009.

Applicable for new bonds opened from 9 April 2009

Fixed Rate Bonds and e-Bonds:

  • Rates on the Six Month, One, Two, Three and Five Year Fixed Rate Bond and Six Month, One, Two, Three and Five Year e-Bond may be withdrawn without notice.
  • Fixed Rate Bonds, e-Bonds and FRISAs can be opened with a minimum investment of just £1.
    The One Year Tracker Bond can be opened with a minimum investment of £100.
  • Members already holding a Nationwide bond can in addition take out any of the new bonds available as there is no limit on the number of bonds a saver can hold, only an upper investment limit of £2,000,000 on Fixed Rate Bonds and Tracker Bonds and £3,000,000 on e-Bonds.
  • Six Month and One Year Fixed Rate Bonds or e-Bonds can be closed at any time subject to the loss of 90 days’ interest. The Two Year Fixed Rate Bond or e-Bond can be closed subject to the loss of 180 days’ notice. The Three Year Fixed Rate Bond or e-Bond can be closed subject to the loss of 270 days’ notice. The Five Year Fixed Rate Bond or e-Bond can be closed subject to the loss of 365 days’ interest.
  • No part withdrawals are allowed.
  • Members who want a monthly income from their savings can take advantage of the monthly interest option.
  • Nationwide e-Bonds are only available online through a FlexAccount and are operated through Nationwide’s Internet Bank.

Fixed Rate ISA Bonds:

  • Rates on the Six Month, One, Two, Three and Four Year Fixed Rate ISA Bonds may be withdrawn without notice.
  • All existing Nationwide cash ISA and Tessa Maturity ISA holders can transfer all of their existing Nationwide ISA balances into a Fixed Rate ISA Bond without affecting their annual ISA subscription limits. Transfers in from other ISA providers are currently only permitted into the Four Year Fixed Rate ISA Bond.
  • Customers can also add up to £3,600 when opening a Fixed Rate ISA Bond if they have not yet used their cash ISA allowance in the current tax year.
  • The Six Month Fixed Rate ISA Bond and the One Year Fixed Rate ISA Bond can be closed at any time subject to the loss of 90 days’ interest. The Two Year Fixed Rate ISA Bond can be closed in the first year subject to the loss of 120 days’ interest, and in the second year subject to the loss of 90 days’ interest. The Three Year Fixed Rate ISA Bond can be closed in the first year subject to the loss of 150 days’ interest, in the second year subject to the loss of 120 days’ interest and in the third year subject to the loss of 90 days’ interest. The Four Year Fixed Rate ISA Bond can be closed in the first year subject to the loss of 180 days’ interest, in the second year subject to the loss of 150 days’ interest, in the third year subject to the loss of 120 days’ interest and in the fourth year subject to the loss of 90 days’ interest

http://www.nationwide.co.uk/

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