10-06-2025
- Business
- The Herald Scotland
Nationwide customers could earn free £759 boost due to deal
Now, it has launched a new Member Exclusive Bond offering a five per cent interest rate over 18 months.
This could deliver returns of this amount on the maximum deposit of £10,000.
The fixed-term account, available exclusively to existing Nationwide members, significantly outperforms current market savings rates.
According to the best fixed-rate bond savings accounts up to one year currently offer interest rates of 4.45 per cent.
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Members can deposit between £1 and £10,000 into the account. Those investing the maximum amount would receive £759 in interest when the account matures after 18 months, making it one of the most competitive fixed-rate options available.
This offering from the building society comes after Nationwide announced a new Fairer Share Payment, with more than four million eligible members set to receive £100 each.
The payment is set to be distributed directly into members' Nationwide current accounts between June 18 and July 4, 2025.
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To qualify for the payment, members must use Nationwide for their everyday banking whilst also holding a qualifying savings or mortgage product with the building society.
The Fairer Share Payment forms part of £1billion in direct payments made to eligible members over the past year.
Nationwide is also introducing a £200 member-only switching incentive as part of its enhanced benefits package.
