Customers may also be eligible for a £175 payment from Nationwide
Nationwide Building Society has provided an update on the accounts it offers customers. The provider features a selection of fixed rate and easy access accounts.
This includes its highest-paying Flex Regular Saver, which currently offers 6.5 percent. However, you can only pay in up to £200 monthly into this account and you must hold a Nationwide current account to open one. A customer raised a query as they were having difficulty viewing the account options available to them. They asked the group: “Why do I need to sign in again just to view your ISA options?”
Nationwide replied to explain there was a solution to this issue. The group said: “You can review the accounts we offer here on our website without the need to sign in to your internet bank.”
The building society provided a link to a webpage with details of its accounts. There are presently five cash ISAs on offer with Nationwide, with rates reaching up to 4 percent.
These include
- 1 Year Fixed Rate Cash ISA – 3.8 percent
- 2 Year Fixed Rate Cash ISA – 3.8 percent
- 3 Year Fixed Rate Cash ISA – 3.8 percent
- 5 Year Fixed Rate Cash ISA – 4 percent
- 1 Year Triple Access ISA – 3.3 percent.
A major benefit of ISAs is they are tax-free, meaning any interest earned or investment gains in these accounts are exempt from tax. You can currently save up to £20,000 into any form of ISA.
However, from April 2027, the rules will alter, allowing you to only deposit up to £12,000 divided as you wish between cash ISAs and stocks and shares ISAs. The remaining £8,000 will solely be available for deposits into investment-based accounts.
Savers aged 65 and above will be exempt from these new rules and will maintain the current allowance. Nationwide is also presently offering £175 payments to certain customers.
This one-off bonus can be obtained when switching to a new or existing FlexDirect, FlexAccount or FlexPlus account. Your switch must include two active direct debits.
You’re also required to deposit at least £1,000 into the account and make one purchase with your debit card. These two actions must be completed within 31 days of either opening the account or requesting the switch into an existing account.
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