Here is a full list of the new interest rates on ISAs and online bonds currently on offer from Nationwide:
- 1-Year Fixed Rate Online Bond – 4.90% AER
- 1-Year Fixed Rate Branch Bond – 4.90% AER
- 1-Year Fixed Rate ISA – 4.90% AER/tax-free
- 2-Year Fixed Rate Online Bond – 4.75% AER
- 2-Year Fixed Rate Branch Bond – 4.75% AER
- 2-Year Fixed Rate ISA – 4.75% AER/tax-free
- 3-Year Fixed Rate Online Bond – 4.60% AER
- 3-Year Fixed Rate Branch Bond – 4.60% AER
- 5-Year Fixed Rate Online Bond – 4.50% AER
- 5-Year Fixed Rate Branch Bond – 4.50% AER.
These interest rates are available for balances of £1 or more and customers can open the Online Bonds via the website, Internet Bank and Banking app.
However, savers can open one of the Fixed Rate Branch Bonds by visiting one of the building society’s branches.
The financial institution’s Fixed Rate ISAs accept transfers in and can be opened through the Nationwide website, Internet Bank, Banking app or in branch.
It should be noted that all previous Fixed Rate Online Bonds, Branch Bonds and ISAs were withdrawn on November 21, 2023.
Lucinda O’Brien, an expert at money.co.uk, broke down the importance of people taking advantage of hiked interest rates on savings accounts while they still have the chance.
She explained: “While cash provides immediate access, having money in a savings account enhances financial security, facilitates long-term financial planning and gives you the opportunity to earn some interest.
“The interest earnings help to offset the impact of rising prices as inflation can lead to a decrease in the purchasing power of money.
“If you keep a significant amount of physical currency over an extended period without it earning interest or growing in value, its real value will decline.”
