Nationwide launches top fixed-rate accounts3-year accounts offer 4.5% to existing savers
24 November 2010
The newly-launched Christmas Loyalty Isa and Christmas Loyalty Bond from Nationwide Building Society both pay a top rate of 4.5% to existing savers.
Neither account is available to new customers, so they don't make it into the Which? 3-year Fixed-Rate Savings or Fixed Rate Cash Isa Best Rate tables. Their interest rates beat the best of our Best Rates though, so if you are a Nationwide customer and are willing to tie your money up for three years, they are well worth a look.
Get the best rate on your savings
To qualify for the accounts, which will be available in branch, customers must have had at least £1 in a Nationwide savings product for 3 months before applying for the new account. The Bond is available to customers aged seven or over, while the Isa is limited to those aged 16 or over.
You must have at least £1,000 to open either account, and both have quite low maximum balances, at £5,000 for the Bond (£10,000 for joint accounts) and £5,100 for the Isa. In addition, the Isa does not accept transfers in from other providers.
Which? savings expert Rebecca Fearnley commented: 'These new accounts are good news for Nationwide customers looking for a good return on their money over the next three years. But if you're not with the Nationwide, don't panic. Our Best Rate 3-year Fixed Rate savings accounts and Isas are all widely available.'
Which? Money when you need it
You can follow @WhichMoney on Twitter to keep up-to-date with our Best Rates and Recommended Provider product and service reviews.
Sign up for the latest money news, best rates and recommended providers in your newsletter every Friday.
Or for money-saving tips, and news of how what's going on in the world of finance affects you, join Melanie Dowding and James Daley for the Which? Money weekly money podcast
For daily consumer news, subscribe to the Which? news RSS feed here. And to find out how we work for you on money issues, visit our personal finance campaigns pages.