Nationwide UK (Ireland) Launches Market Leading 12 Month Fixed Rate Savings Account
Anniversary Bond marks Nationwide UK (Ireland)’s second full year in the Irish market
Nationwide UK (Ireland), part of the Nationwide Building Society, has introduced a market leading 12 Month Fixed Rate Savings Account offering a rate of up to 3.65%, gross p.a./AER*. The new account, named the Anniversary Bond, is available to new and existing customers from 3rd March 2011 for a limited time period.
The 12 Month Fixed Rate Euro Account requires a minimum deposit of €3,000; has an interest rate fixed for the 12 month term and the option to receive interest either monthly or at maturity. Early closure of the account is permitted but will result in a 90 day interest charge on the total balance. A maximum deposit amount of €2,000,000 applies.
Brendan Synnott, Managing Director of Nationwide (UK) Ireland, commented,
“To mark our two year anniversary in the Irish market we are delighted to introduce this market leading product. Over the past two years we have steadily grown our customer base by focusing on quality customer service and long-term good value.
“We are fully committed to the Irish savings market and indeed we opened our first high street premises on Merrion Row in Dublin in December 2010. This 12 month fixed rate product offering up to 3.65% is a further sign of our commitment to delivering long-term value to Irish savers.”
Nationwide UK (Ireland) offers five savings products to Irish savers including an Easy Access Savings Account and four Fixed Rate Savings Accounts (6 months, 12 months, 24 Months, 36 Months). These savings accounts offer either annual (maturity) or monthly interest payment options and are available to Irish residents who are aged 18 years or over.
Accounts can be opened at Nationwide UK (Ireland)’s premises on Merrion Row or application forms can be downloaded from www.nationwideuk.ie and will be processed at their call centre in Spencer Dock, Dublin 1. Alternatively, customers can call the customer service centre on 1800 800 180 for more details and request an application pack.
*The term Annual Equivalent Rate (AER) means that the interest rate has been calculated to show what would be received for a full year – this enables customers to compare savings rates on a like-for-like basis.
Nationwide UK (Ireland) Anniversary Bond 12 Month Fixed Rate Savings Account details:
|
|
|---|---|
| Rate type | Fixed |
| Gross interest rate p.a. | 3.65% annual interest 3.59% monthly interest |
| AER* | 3.65% annual interest 3.65% monthly interest |
| Net interest rate p.a. | 2.66% annual interest 2.62% monthly interest |
| Minimum opening balance | €3,000 |
| Maximum balance | €2,000,000 |
| Eligibility | Personal accounts only ROI residents only Over 18s only |
| 14 day cooling off | Yes |
| Access | No partial withdrawals. Early closure subject to interest charge. No additional lodgements permitted during the term |
| Interest charges | If accessed before maturity, a/c must be closed and a 90 day interest charge will apply on the total balance |
| Interest paid | Monthly or at maturity. Interest must be paid to a different a/c for monthly option. |
| Statement frequency | At maturity |
| Payments in | - Electronic transfer - Transfer from internal a/c - IR Euro cheque - Euro Draft |
| Payments out | - Electronic transfer to non Nationwide UK (Ireland) a/c - Transfer to internal a/c - IR Euro cheque |
Interest paid on savings is subject to Deposit Interest Retention Tax (DIRT) - this is currently charged at a rate of 27%.
For further information, please contact:
David O'Síocháin, Pembroke Communications
Tel: 01 649 6322 / 087 936 2440
E: david@pembrokecomms.ie
Nikki Latchford, Pembroke Communications
Tel: 01 6496428 / 086 1026811
E: nikki@pembrokecomms.ie
Nationwide UK (Ireland) Additional Information
Part of the world’s largest building society, Nationwide UK (Ireland) currently employs around 22 people at its Spencer Dock offices in Dublin’s IFSC where it operates a dedicated customer service centre. Nationwide UK (Ireland) also operates a high street branch at 13 Merrion Row, Dublin 2. All customer enquiries, account opening and servicing queries are handled locally either by telephone or personal appointment with a customer service representative.
With assets of around £190 billion, Nationwide Building Society has one of the strongest balance sheets in UK financial services in terms of both its construct and its quality.
Nationwide UK (Ireland) in association with the ESRI provides a Savings Index for the Republic of Ireland. Further information on the Savings Index is available at www.nationwideuk.ie/savingsindex/default.asp
Further information about Nationwide UK (Ireland)’s savings accounts is available at www.nationwideuk.ie/savings.asp.