Bonding with Nationwide012

Nationwide Building Society has launched a new three year Loyalty Fixed Rate Bond paying 5.30% gross p.a./AER, as well as a new range of one and two year Fixed Rate Bonds and e-Bonds paying from between 5.10% and 5.20%.

The Loyalty Fixed Rate Bond is only available to existing customers with three years' membership. However, other fixed rate, as well as e-Bonds, are open to new and existing members.

All bonds carry a minimum balance of £1 and are subject to an upper investment limit of £2,000,000 on Fixed Rate Bonds, £3,000,000 on e-Bonds. Members can open as many bonds as they want up to this value.

Closures on one and two year bonds and e-Bonds are permitted in the first year subject to the loss of 90 days' interest and in the second year of a two year bond, subject to 120 days' loss of interest.

Members who want a monthly income from their savings can fix their income by taking advantage of the monthly interest option.

Meanwhile, the rate on the Loyalty Fixed Rate Bond will be fixed for three years and may be withdrawn without notice in response to market rates.

Loyalty Fixed Rate Bonds may be held jointly where both holders are qualifying members of three years or more. Customers who only hold a credit card, stand-alone insurance product or accounts issued by the Society's subsidiaries do not qualify.

Closures on Loyalty Fixed Rate Bonds are allowed at any time but are subject to 90 days' notice or loss of 90 days' interest. No part withdrawals are allowed.

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2006-11-08 10:12:54 © Moneyextra.com