Nationwide Building Society is set to offer its long-term members a new loyalty fixed-rate savings bond.
The savings account will become available on August 1st 2006, in the form of a three-year bond providing a guaranteed return.
Available to customers with a minimum of three years' membership, the bond will pay 5.10 per cent gross AER for savers, with a member who invests £5,000 earning more than £637 net interest when the bond matures in August 2009.
Furthermore, the bond is not limited to one per member and is available throughout the year.
The savings account has an upper limit of £2,000,000, although any Nationwide account can be opened with a minimum stake of £1.
Steve Clode, divisional director of marketing, commented: "Following feedback from our members we have undertaken a review of our bond portfolio .
"The launch of our new loyalty fixed-rate bond demonstrates our commitment to rewarding member loyalty by offering a permanently available bond at a competitive fixed rate of interest."
Nationwide Building Society is the UK's fourth largest mortgage lender and ninth largest provider of retail banking, saving and lending by asset size.
Nationwide launches fixed-rate savings bonds
Nationwide launches fixed-rate savings bonds
Tue, 01 Aug 2006
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