Nationwide Building Society customers can benefit from a 5.50 percent interest rate on the Start to Save Issue 2 as well as a chance to win £250.
This regular saving account is designed to get Britons into saving.
Individuals can put away money regularly and Nationwide will enter them into a £250 prize draw.
Savers can increase their balance by at least £25 (but by no more than £50) in each of the six months leading up to a prize draw to be in with a chance of winning.
Withdrawals are permitted but this might affect one’s entry into the prize draw.
Each person can get an interest rate of 5.50 percent AER/gross a year (variable) for 24 months
If someone deposited £600 during the 24-month term, based on an interest rate of 5.50 percent AER/gross a year (variable), the estimated balance would be £634.87.
To open an account, savers need to be 16 or over and be a resident in the United Kingdom.
The account can be opened on nationwide.co.uk or on the Internet Bank or Banking app (if they’re registered).
The account can be increased by £50 each Calendar Month.
There is one further prize draw set to take place.
Prize draws will take place on August 22, 2023, and February 20, 2024.
To be entered into a prize draw, savers will need to increase their account balance by at least £25 (but by no more than £50) in each of the six calendar months leading up to the month of the prize draw.
For example, to have qualified for the prize draw on August 22, 2023, the total balance in saver’s accounts needed to have increased by at least £25 in February, March, April, May, June and July.
If they increase their balance by more than £50 in a month running up to a prize draw, they will not be entered for that prize draw.
Winners will be selected at random from all accounts that qualify for the prize draw. Each winner will receive £250.
