Bonds - New fixes from Nationwide0

Nationwide Building Society has announced the launch of a new range of fixed rate bonds paying up to 6.15%.

The Society's new Two year Loyalty Fixed Rate Bond, paying 6.15% gross pa. 4.92% net, will provide a guaranteed return for savers and is available to over 8 million existing members.

Meanwhile, a new one year Fixed Rate Bond paying 6.10% gross 4.88% net and a new range of one and two year Fixed Rate e-Bonds offering 6.15% gross, will be available to new and existing members. Corresponding rates for monthly income are 5.90% and 5.95% gross.

Any Nationwide Bond can be opened with a minimum investment of just £1.

Members already holding a Nationwide Bond can take out any of the new bonds available as there is no limit on the number of bonds a saver can hold, only an upper investment limit of £2,000,000 on Fixed Rate Bonds and £3,000,000 on Fixed Rate e-Bonds.

One year bonds can be closed at any time subject to the loss of 90 days' interest.

The two year Fixed Rate e-Bond can be closed in the first year subject to the loss of 120 days' of interest, and in the second year subject to the loss of 90 days' interest.

Worth noting is that Fixed Rate e-Bonds are only available online through a FlexAccount and are operated through the Internet Bank.

The Loyalty Fixed Rate Bond meanwhile is only available to existing customers with three years' membership. 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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2007-06-19 10:18:19 © Moneyextra.com