Nationwide has launched higher fixed-rate cash ISAs and savings bonds, offering the same rates online and in branch, as it responds to a changing interest rate landscape with a focus on choice and value for savers.
Nationwide has raised rates on a new round of fixed-rate cash ISAs and savings bonds, unveiling updated products on Friday that are available both online and in branch. The building society said the move is intended to give savers the same returns regardless of how they open an account, a point it linked to its branch network and a promise not to disadvantage customers who prefer face-to-face service.
Richard Stocker, Nationwide’s head of savings, said the mutual was “pleased to launch new higher rates on our fixed rate cash ISAs and bonds”, adding that customers could access the same rates online or in branch. He said the society’s branch-accessible products were among the highest-paying offered by a major high street provider, describing the range as part of Nationwide’s wider effort to combine choice, value and support for savers.
The new cash ISA rates start at 4.40% AER for a one-year fix, rising to 4.50% for two years, 4.65% for three years and 4.70% for five years. Fixed-rate bonds are priced at 4.25% AER for one year, 4.30% for two years, 4.60% for three years and 4.65% for five years. Nationwide has also set the same headline rates for its online and branch bonds, meaning customers can choose the channel they prefer without sacrificing yield.
The latest pricing marks a very different level from Nationwide’s launches in late 2023 and early 2024, when its fixed-rate products were paying as much as 5.60% on some two-year issues and 5.40% on some one-year deals, according to the society’s earlier announcements. More recently, the building society had already trimmed rates, with new issues in January 2024 paying 4.25% on one-year cash ISAs and bonds, and 4.00% on two-year fixes. The latest move suggests Nationwide is adjusting to a lower-rate environment while still trying to stay competitive in the savings market.
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