Business

Nationwide withdraws 5.4% bonds as new interest rates announced

by
November 7, 2023November 7, 2023
Nationwide withdraws 5.4% bonds as new interest rates announced

Nationwide Building Society has launched new issues of various fixed rate bonds, withdrawing the previous products from sale.

The building society launched new issues of its Fixed Rate Online Bonds, Fixed Rate Branch Bonds and Fixed Rate ISAs on November 1.

The highest-paying new rate is 5.2 per cent AER – a rate applied to the one-year fixed rate Online Bond, one-year fixed rate Branch Bond and one-year fixed rate ISA (tax-free).

The building society pulled all previous Fixed Rate Online Bonds, Branch Bonds and ISAs from sale at close of business on October 31, 2023.

Nationwide Building Society has announced new issues of fixed rate bonds

NATIONWIDE BUILDING SOCIETY

The previous issues of the one-year fixed rate Online Bond, one-year fixed rate Branch Bond and ISA (tax-free) were launched on October 17, and they all paid 5.40 per cent AER.

The new rates are available for balances of £1 or more and savers can open the Online Bonds via the website, Internet Bank and Banking app.

Fixed Rate Branch Bonds can be opened in branch.

Nationwide’s Fixed Rate ISAs accept transfers in and they can be opened via the website, Internet Bank, Banking app or in branch.

The new rates, effective from November 1, are:

  • 1 Year Fixed Rate Online Bond – 5.20 per cent AER
  • 1 Year Fixed Rate Branch Bond – 5.20 per cent AER
  • 1 Year Fixed Rate ISA – 5.20 per cent AER/tax-free
  • 2 Year Fixed Rate Online Bond – 5.00 per cent AER
  • 2 Year Fixed Rate Branch Bond – 5.00 per cent AER
  • 2 Year Fixed Rate ISA – 5.00 per cent AER/tax-free
  • 3 Year Fixed Rate Online Bond – 4.80 per cent AER
  • 3 Year Fixed Rate Branch Bond – 4.80 per cent AER
  • 5 Year Fixed Rate Online Bond – 4.60 per cent AER
  • 5 Year Fixed Rate Branch Bond – 4.60 per cent AER

Nationwide Building Society has recently undergone a rebrand

NATIONWIDE BUILDING SOCIETY

Nationwide Building Society’s previous bonds rates were:

  • 1 Year Fixed Rate Online Bond – 5.40 per cent AER
  • 1 Year Fixed Rate Branch Bond – 5.40 per cent AER
  • 1 Year Fixed Rate ISA – 5.40 per cent AER/tax-free
  • 2 Year Fixed Rate Online Bond – 5.25 per cent AER
  • 2 Year Fixed Rate Branch Bond – 5.25 per cent AER
  • 2 Year Fixed Rate ISA – 5.25 per cent AER/tax-free
  • 3 Year Fixed Rate Online Bond – 5.00 per cent AER
  • 3 Year Fixed Rate Branch Bond – 5.00 per cent AER
  • 5 Year Fixed Rate Online Bond – 4.75 per cent AER
  • 5 Year Fixed Rate Branch Bond – 4.75 per cent AER