The group recently made an announcement about all its high street branches
Nationwide Building Society has released an update regarding a fast-approaching final deadline for savers. The group clarified its rules after a query from a customer on social media.
The customer posed a crucial question to the savings provider about ISAs, asking: “What’s your deadline for the end of the tax year?” Each tax year, you can deposit up to £20,000 into tax-free ISAs, and the allowance can currently be divided between cash ISAs or stocks and shares ISAs, as per your preference.
In response to the question, Nationwide directed the customer to a page on the building society’s website with further details about the ISAs they provide.
Nationwide was asked to specify the cut-off date for customers to make deposits into their accounts using this year’s ISA allowance. The group clarified: “For Nationwide (and all ISA providers), ISA contributions must be made by 5 April (by 11.59pm on 5 April), the final day of the tax year, for them to count toward that year’s allowance.
“This aligns with the HMRC ISA rules, which Nationwide adheres to. All ISAs and rates are available in branch, by phone or online, as we understand customers appreciate choice in how they bank, which is why we’ve extended our Branch Promise.”
The Branch Promise is Nationwide’s pledge to keep all its 605 high street branches open until at least 2030. The group also offered additional advice on how to check over your savings.
Nationwide said: “Customers can also check any online ISA or savings accounts on the app with rate and maturity dates all detailed there. Customers can also make use of our in‐app budgeting tool to help them manage their money.”
Changes to ISA allowances
Currently, the building society offers rates up to 4.5 per cent with its ISA products, including a five-year fix and a three-year fix both paying 4.5 per cent. A big changes to ISAs is approaching.
From the April 2027 tax year, the current £20,000 allowance will effectively be reduced, so that only £12,000 will be available for deposits into any type of ISA.
The remaining £8,000 will have to be used for investment-based ISAs.
