Nationwide Building Society has outlined its commitment to helping people who want to start saving money this year as it prepares to increase savings rates.
Earlier this month, the financial services provider announced that all of its variable-rate savings accounts would see savings rates automatically rise by 0.25 per cent on February 1st 2007.
This effectively means that people saving money with the financial services provider will see their savings accumulate interest more rapidly than before.
Details of savings accounts with the organisation can be viewed over the phone, at a high street branch or using online banking services.
Stuart Bernau, executive director of Nationwide Building Society, explained the financial services provider's desire to support savers.
"Nationwide [Building Society] is committed to providing long-term good value to savers through accounts which are simple, straightforward and easy to understand," he said.
The move follows the decision by the Bank of England's monetary policy committee on January 11th to raise the base rate to its highest level in nearly six years.
Nationwide Building Society comments on raising savings rates
Nationwide Building Society comments on raising savings rates
Fri, 26 Jan 2007
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