Nationwide - most trusted for savings - Savings - News - Moneyfacts

News

Nationwide - most trusted for savings

Nationwide - most trusted for savings

Category: Savings

Updated: 03/12/2008
First Published: 02/12/2008

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 It is now over 6 months old so the content may be out of date.

Research has found that if we had £50,000 to save for 1 year, Nationwide would be the top choice for a savings account.

Nationwide Savings Director, Matthew Carter: "Following the collapse of the Icelandic banks, Bradford and Bingley and Northern Rock and the proposed takeover of HBOS by Lloyds TSB, we have seen consumers move their savings to Nationwide as they look for a safe home for their savings. In the first half of this financial year we took £2.6 billion in net receipts giving us a 34% market share. Indeed, the entire building society sector has seen an increase in deposits being made as consumers reacquaint themselves with the benefits of being with a mutual.

"Consumers appreciate the strength and resilience of a well run modern mutual and how a low risk approach can weather the current turbulent market conditions. With less reliance on the wholesale markets, Nationwide has a strong and well capitalised balance sheet and for the last two years has effectively funded its mortgage lending through the use of its savings deposits.

"We're delighted consumers recognise the strength and stability of Nationwide and how we are a safe haven for their savings. We will continue to provide our savers with accounts that offer long-term good value and are easy to understand. In thesedifficult times we hope saving will remain on people's agendas."

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 Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Savings being used as a festive financial buffer

Good news from RCI Bank UK – its latest research shows that many of us are saving more than we were a year ago, but the question is, will you be dipping into that buffer to cover the cost of Christmas?

6 of the best easy access savings accounts

Easy-access savings accounts are as simple as they sound – they allow you to access your money whenever you need it, without having to give advance notice, and they also allow you to pay into them at any time. Here are six of the best.

Start saving for Christmas… 2017!

Christmas is just around the corner and our annual festive splurging is starting to step up, but are you prepared? It may be too late to start saving for this year’s festive spend, but it’s never too early to start for next year’s!
 
Close