Nationwide To Launche Chart-Topping ISA | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 16/03/2021

Nationwide Building Society is set to launch a chart-topping 18-month fixed rate ISA that offers a £50 transfer incentive, but it is only available to existing members.

Member Exclusive FRISA pays 0.75% AER and can be opened with a deposit of just £1. The ISA is only available to those who are existing members on Tuesday 16 March 2021, either by having a Nationwide savings, mortgage or current account.

The ISA has an added bonus of a transfer incentive, in which customers can earn £50 by transferring a minimum of £10,000 from their existing ISA to the Member Exclusive FRISA via the ISA transfer service.

Commenting on the launch of the new ISA, Tom Riley, director of Banking & Savings at Nationwide, said: “As a mutual, we continue to look at how best to reward and offer value to our members and the launch of our new Member Exclusive FRISA does just that. As we fast approach the end of the tax-year, this new account means our current best on-sale ISA rate is available exclusively to existing members. We want to ensure that this new account is available to as many members as possible, which is why it is available to open online and via our branches. New members will still be able to benefit from our highly competitive Triple Access Online ISA.

“In what remains an ultra-low interest rate environment, we have tried to find alternative ways to reward all types of savers, which is why we are launching our first ever ISA transfer incentive, exclusively for existing members. While our Start to Save account looks to reward those who don’t have much to put away, our new £50 cashback offer is aimed at giving something back to those members who have built up a significant amount in their savings over the years and who choose Nationwide to look after their nest egg.”

To view all the ISA deals currently available, visit our ISA charts.

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