Wednesday 30th August 2006
The Nationwide Building society has announced that it is set to increase its rate of interest on all savings accounts.
All customers who have variable rate accounts will see rates rise by 0.25 per cent, in step with the bank of Englands recent base rate rise.
This means that e-Savings, Smart, Monthly Income 65+ and Cash Child Trust Fund customers can look forward to a boost to their rates of interest.
Nationwide claims that the changes, which will occur on Friday September 1st, will ensure that its rates are, on average, 0.35 per cent better than its main rivals.
In addition, the company has announced plans to launch a two-year Loyalty Tracker Bond that will offer interest rates of between 4.55 per cent and 4.75 per cent gross per annum AER depending on the amount invested.
A monthly interest option is also available.
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