Nationwide launches new online savings account

Nationwide has launched a new online savings account in response to customer feedback, which indicated the need for an online savings product.

MySave Online Plus, aims to provide customers with long term good value and competitive savings interest rates.

The new account, which is the first of its kind offered to customers who do not hold a current account, also allows customers access to their savings should they need to.

For customers making no more than one withdrawal a year, a rate of 2.25 per cent gross per annum/2.27 per cent AER is available, including a one year bonus of 0.75 per cent.

Robin Bailey, Nationwide's savings director said: "With the Bank of England base rate continuing at an historic low we have been seeking ways to help savers get a better return on their money, and this account gives customers the best of both worlds."

The MySave Online Plus account, must be opened with a minimum balance of £1,000, and is available to anyone with a UK account that accepts direct debits.

Natwest recently announced a highly competitive bonus to its E-savings account, providing the best savings rates on the market for new customers.

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2010-09-30 12:55:43 © Moneyextra.com