Nationwide improves rate on new online savings account

Nationwide has increased the savings interest rates on its new online savings account, following its successful pilot.

The bonus customers receive in the MySave Online Plus scheme for making no more than one withdrawal a year has been increased to 1.10 per cent, taking the overall rate paid to 2.60 per cent gross per annum.

MySave Online Plus can be opened quickly and easily online and is available to anyone with a UK account that accepts direct debits.

Robin Bailey, Nationwide's savings director, said: "Our new account is great for anyone who wants the freedom and flexibility of managing their money online. It is quick and easy to open, while the rate compares well with similar accounts on the market."

The minimum opening balance for the Nationwide online savings account is £1,000 and the maximum investment is £3 million.

Natwest and Norwich & Peterborough both recently introduced online savings accounts as they continue to offer customers competitive savings rates.
 

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2010-10-08 12:57:17 © Moneyextra.com