Nationwide is presenting an exclusive opportunity for its account holders to earn a competitive fixed rate on their savings. With its Member Exclusive Bond, customers can earn a 5% AER/gross fixed interest rate annually for 15 months on amounts up to £10,000.
According to a recent email from the mutual building society, maintaining your savings untouched for the entire term can yield a return of £63.13 per £1,000 deposited. For those who maximize the offer with a £10,000 deposit, this translates into a total gain of £631.30.
This announcement comes alongside news from The Mortgage Works, a Nationwide subsidiary, which is launching new two-year tracker buy-to-let mortgage products. Additionally, The Mortgage Works is reducing rates by up to 0.15 percentage points on selected two, three, and five-year fixed-rate buy-to-let and let-to-buy mortgages.
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Keir Fraser, Lead Manager at The Mortgage Works, stated, “These rate cuts provide much-needed support for landlords amid ongoing cost pressures. Our new tracker products also introduce flexibility with a ‘switch to fixed’ option that lets customers switch to a fixed rate at any time without early repayment charges.”
Nationwide stands as the UK’s largest building society, boasting over 16 million members and competing with major banks such as Santander, HSBC, NatWest, Lloyds Banking Group, and Barclays. This exclusive savings offer reinforces Nationwide’s commitment to providing valuable financial products to its members.