Money News
Nationwide International, the offshore subsidiary of Nationwide Building Society, has raised the top interest rate available on its Base Rate Tracker Premium investment account by 0.25% to 6.50% AER. The rate applies to balances of £25,000+. The rate for the £5,000 - £24,999 band remains the same at 5.95% AER, however. Corresponding monthly rates are 6.49% and 5.90%.
The account, which can be operated online, by telephone or by post, allows four instant withdrawals of any amount each financial year without penalty.
For annual interest purposes the account guarantees to match or beat Bank of England Base Rate for the first year. Thereafter, the rate is guaranteed to pay 0.25% below base rate until January 1st 2010.
With monthly interest, on the other hand, the account guarantees to pay no less than 0.20% below Base Rate for the first year. Thereafter, the rate is guaranteed to pay 0.60% below base rate until January 1st 2010.
A minimum balance of £5,000 is required to open an account. Maximum balance is £2 million per account.
21 September 2007 © Moneyextra.com
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