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Wednesday 03rd of November 2010
September 9, 2009    

Nationwide boosts bond rates

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by David Masters

Nationwide has increased the interest rates on a range of its one-year savings bonds.

The building society now pays interest at up to 4.25% on the bonds.

Savers with a one year fixed-rate bond or e-Bond will now be paid 3.25% interest for balances above £10,000, and 3% for balances below £10,000.

Meanwhile, customers with a balance of £10,000 or more in Nationwide’s Guaranteed Savings Bond will be paid interest at 4.25%.

This bond is only available to customers also investing in a six-year Legal & General Capital Guaranteed Multi-Index Equity Bond as part of a Guaranteed Combination Plan.

Andy Hutchinson, Nationwide’s head of savings, said the building society had boosted its interest rates in a bid to attract customers looking for a good return in the current lower interest rate climate.

“We continue to cater for a variety of savings needs by offering a competitive range of bonds, including Fixed Rate ISA Bonds, and terms range from six months to five years,” he added.

Nationwide also announced this week that it has increased the maximum allowed balance in its e-Savings account to £3 million.

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