Nationwide launches market-leading rates

Nationwide has increased the interest rates on some of its savings products in order to offer customers some of the best savings rates on the market.

From today March 17th, all 18-month fixed-rate Isas opened with the bank will offer a market-leading tax-free rate of 3.55 per cent AER on balances between £1 and £24,999.

Customers looking to invest balances over £25,000 can expect a tax-free return of 3.75 per cent AER.

The bonus rate on any MySave Online Plus accounts opened from today will also see ca significant increase from 0.10 per cent to 1.51 per cent gross p.a, creating overall interest rates of a market-leading 3.05 per cent AER.

This increased interest rate will also be back dated to include any customers who opened their account from February 18th.

Legal and General has recently predicted a rise in the number of people putting money away to try to negate the effects of the sweeping government cuts.

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2011-03-17 13:05:04 © Moneyextra.com