Nationwide Building Society launches new fixed rate products paying up to 5.4 per cent

Savers looking for a one-year fixed rate bond or ISA with the building society can get an interest rate of 5.40 per cent.

The rates are available for balances of £1 or more.

The Online Bonds can be opened via the Nationwide Building Society website, Internet Bank and Banking app.

The Fixed Rate Branch Bonds can be opened in branch.

The building society’s Fixed Rate ISAs accept transfers in and they can be opened via the website, Internet Bank, Banking app or in branch.

The building society said all of the previous Fixed Rate Online Bonds, Branch Bonds and ISAs were withdrawn from sale on October 16.

Nationwide Building Society’s new rates are:

• 1 Year Fixed Rate Online Bond – 5.40 per cent AER
• 1 Year Fixed Rate Branch Bond – 5.40 per cent AER
• 1 Year Fixed Rate ISA – 5.40 per cent AER/tax-free
• 2 Year Fixed Rate Online Bond – 5.25 per cent AER
• 2 Year Fixed Rate Branch Bond – 5.25 per cent AER
• 2 Year Fixed Rate ISA – 5.25 per cent AER/tax-free
• 3 Year Fixed Rate Online Bond – 5.00 per cent AER
• 3 Year Fixed Rate Branch Bond – 5.00 per cent AER
• 5 Year Fixed Rate Online Bond – 4.75 per cent AER
• 5 Year Fixed Rate Branch Bond – 4.75 per cent AER

LATEST DEVELOPMENTS:

1. HSBC is offering up to £205 and you don’t have to switch current account
2. Skipton Building Society launches new savings option to 'prolong lofty rates'
3. Coventry Building Society increases cash ISA interest rate to 'market-leading' rate

Nationwide recently announced it was updating all of its 605 branches with new branding.

Debbie Crosbie, Chief Executive of Nationwide Building Society, said: “Nationwide offers a large-scale alternative to the shareholder-owned banks.

"As a major challenger, we are committed to offering a good way to bank for our customers through better service, value and fairness.

"Our rebrand is the most significant in 36 years and ensures we continue to be relevant for the needs of customers today and tomorrow.”