Nationwide increases MySave rate - Savings - News - Moneyfacts

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Nationwide increases MySave rate

Nationwide increases MySave rate

Category: Savings

Updated: 29/10/2010
First Published: 29/10/2010

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Nationwide has increased the rate paid by its MySave Online Plus account.

The product's rate has been increased by 0.35% to 2.95% and the bonus increased from 1.10% to 1.45% for 12 months. All other terms and conditions remain unchanged.

This second rate increase within a month, albeit by way of a further increase in the bonus, is good news for internet investors and lifts the MySave Online Plus account to the top of the internet table.

Investors will need to be certain they can restrict their withdrawals to one per annum in order to obtain the high rates on offer, as penalties for further withdrawals are significant.

A review will still be required when the bonus expires after 12 months as the rate will become less competitive.

Four out of five Moneyfacts stars have been awarded

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Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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