Nationwide Raises Interest Rates on 27 Savings Accounts – ‘Above Market Average’ | Personal finance | Finance
The rate on Flex Instant Saver (number 2), available exclusively to current account members, will also increase to 2.25%.
Savers registered with Nationwide’s SavingsWatch service will be notified of any rate changes affecting them and highlighting any new product launched by the Company.
On the news, Tom Riley, director of retail products at Nationwide Building Society, said: “We remain committed to supporting savers, which is why we have increased rates on all of our off-sale savings accounts.
“In recent months, our average deposit rate has been at least 85% above the market average, demonstrating our mutual difference.”
Mr Riley continued: “Helping people develop a saving habit, especially at this time, is central to the ethos of a building society.
“For this reason, one of our biggest increases has been to our regular savings accounts, which we hope will encourage those who can put money aside to do so.”
The full list of accounts updated with the respective new pricing includes:
Start saving 2:5%
Purchase assistance: 3%
Start saving: 3%
Flex Regular Saver: 4%
Keep saving: 1.75%
Accounts for children
Children’s Trust Fund: 3%
Junior ISA: 3%
Flex One Regular Saver: 3%
Smart limited access: 2.5%
Future saver: 2.5%
Smart Saver: 1.75%
Smart/Smart 2: 1.75%