|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    17th of January 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Banking News feed Banking News

All Financial News feed All Financial News




Nationwide cuts interest on savings

Bookmark and Share

by David Masters
Nationwide cuts interest on savings

Nationwide Building Society has announced interest rate cuts on the majority of its current accounts.

Nationwide said the change follows the Bank of England’s base rate cut last month.

The building society assured savers that none of the cuts will be more than 0.5%, and that some of the cuts will be less.

On average, Nationwide savers will now be paid an average of 0.41% less interest.

The new rates are effective from 1 February 2009.

Matthew Carter, Nationwide’s divisional director of savings, said: “We, like all providers, have had to review our position and manage our portfolio of accounts in relation to current market conditions.”

He added: “We’re pleased to be able to go some way to protecting savers from the most recent cut to the Base Rate.”

To demonstrate its commitment to savers, Nationwide are continuing to offer some savings accounts with interest rate guarantees.

A new Tracker Bond has also been launched today. It pays interest of between 2.05% and 2.30% above the base rate over a one year term.

Recent research by moneysupermarket.com found that Nationwide is the UK’s most trusted savings account provider.

Discuss this in the Finance Markets forums

Story link: Nationwide cuts interest on savings



News posted: February 2, 2009

Financial Services:





Related financial stories to: Nationwide cuts interest on savings:
Previous: «
Next: »

Visited 3680 times, 1 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.

Tags: , , , , , ,