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Shahla
Money Managing Guru
Joined: 13 Nov 2004
Posts: 3324
Cash Points ££ 126163.28
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 Posted: Fri Jun 08, 2007 10:20 pm Post subject: Nationwide Launches New Range of Fixed Rate Cash ISA Bonds P |
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Nationwide Building Society has announced that it will be launching a new range of Fixed Rate ISA Bonds with effect from 6 June 2007. The new one and two year Fixed Rate ISA Bonds will pay a highly competitive interest rate of 6.05%.
The Fixed Rate ISA Bonds are available to both new and existing customers and offer savers the opportunity to invest their money in a tax-free account with a rate of interest that is guaranteed not to change.
Matthew Carter, divisional director at Nationwide, said: “Our Fixed Rate ISA Bonds have proven to be extremely popular since their launch in December last year. To date, over 130,000 accounts have been opened by members wishing to take advantage of tax-free saving and we expect more to take up our latest offering which has a very competitive interest rate of 6.05%.
“Unlike some other Fixed Rate ISA Bonds in the market, customers can open a Nationwide Fixed Rate ISA Bond from as little as £1 and can also transfer existing ISA balances saved elsewhere.”
Notes
Fixed Rate ISA competitor comparison
Nationwide 1 & 2 Year Bradford & Bingley 1 Year Alliance & Leicester 1 Year Halifax 1 Year Halifax 2 Year M&S Money 1 Year M&S Money 2 Year Northern Rock 1 Year Yorkshire BS 1 Year
£1-£2,999 6.05% n/a 5.75% n/a n/a 5.40% 5.45% 6.01% 5.60%
£3,000-£21,000 6.05% 6.15%* 5.75% 5.50% 5.75% 5.40% 5.45% 6.01% 5.60%
* Available for balances of £3,000 only
Rates shown are gross p.a. and correct as at 30.05.07
Fixed Rate ISA Bonds (annual interest)
AER Gross p.a.
One Year Fixed Rate ISA Bond 6.05% 6.05%
Two Year Fixed Rate ISA Bond 6.05% 6.05%
Fixed Rate ISA Bonds (monthly interest)
AER Gross p.a.
One Year Fixed Rate ISA Bond 6.01% 5.85%
Two Year Fixed Rate ISA Bond 6.01% 5.85%
Rates on the one and two year Fixed Rate ISA Bonds may be withdrawn and replaced without notice.
Annual interest is paid on 31 March each year and on maturity and can be added to the account, or paid to a Nationwide current or savings account or a current account with another provider. Monthly interest is paid to another account on the last day of each month and on maturity.
All cash ISA and Tessa Maturity ISA holders (both existing Nationwide members and non-members) can transfer all of their existing ISA balances into a Fixed Rate ISA Bond without affecting their annual ISA subscription limits. Customers can also add up to £3,000 when opening a Fixed Rate ISA Bond if they have not yet used their cash ISA allowance in the current tax year.
Details of changes to the bond product range:
One and two year Fixed Rate ISA Bonds at 5.85% gross/AER are being withdrawn at close of business on 5 June 2007.
New rates are effective from 6 June 2007. |
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