Nationwide UK (Ireland) launch new 12 Month Fixed Rate Savings Account paying 3.35% AER
1 October 2009
One year fixed rate account offers safe haven for lump sum deposits
Nationwide UK (Ireland), a branch of Nationwide Building Society, has expanded its offerings to savers with a new 12 Month Fixed Rate Savings Account offering a rate of up to 3.35%, gross p.a./AER*. The new account is available to new and existing customers from 2nd October 2009.
The 12 Month Fixed Rate Euro Account requires a minimum deposit of just €3,000; has a guaranteed 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.
Carl Gandy, Managing Director of Nationwide (UK) Ireland, commented,
Our intention is to provide savers with a secure home for their savings combined with long term good value. We believe there is a growing appetite amongst consumers for longer term fixed rate savings products and we are launching our 12 Month Fixed Rate Savings Account to meet this increasing demand.
The product is a prudent option for savers as it offers the security of a guaranteed return on their investment over the next year”
Nationwide UK (Ireland) now offer four savings products, an Easy Access Savings Account, a 6 Month Fixed Rate Savings Account, a 9 Month Fixed Rate Savings Account and a 12 Month Fixed Rate Savings Account. 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.
Detailed account information, including Terms and Conditions, is available online at www.nationwideuk.ie or by phone on 1800 800 180.
*The term Annual Equivalent Rate (AER) means that we have calculated the interest rate that would be received for a full year – this enables customers to compare savings rates on a like-for-like basis.
You can access the full press release here.