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Nationwide increase Mysave bonus

Nationwide increase Mysave bonus

Category: Savings

Updated: 08/10/2010
First Published: 08/10/2010

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 It is now over 6 months old so the content may be out of date.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 BS has increased the rate and bonus paid on one of its savings accounts.

The MySave Online Plus now pays a rate of 2.60% (+0.35%), with the size of the bonus increased from 0.75% to 1.10% for 12 months.

This rate increase, albeit by way of an increased bonus, is good news for internet investors and lifts the MySave Online Plus account up in the internet account hierarchy.

Investors will need to be certain they can restrict their withdrawals to one per annum in order to obtain the high rates 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 Any products featured may be withdrawn by their provider or changed at any time.