Bond is the word for Nationwide

Nationwide is launching a market-leading fixed rate bond as it makes a savings promise to help its members ensure they are getting the best returns on their money.
By The Newsroom
Published 26th Nov 2010, 18:45 BST
Updated 26th Nov 2010, 18:45 BST

The UK's biggest building society has pledged that it will not reserve its leading rates for new customers, but it will offer exclusive deals to existing savers to reward them for their loyalty.

It will also write to customers annually showing them how much interest they are receiving on their savings and giving details of all the accounts it offers so that people can switch products if a better rate is available.

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As part of the move, it launched a market-leading three-year fixed rate bond this week, which is only available to existing savers, and will pay a return of 4.5 per cent – 0.5 per cent higher than the next best product available.

The Christmas Loyalty Bond is available to anyone who has had a balance of at least 1 in a Nationwide savings account for the past three months.

People must have a minimum of 1,000 to invest, and can pay in a maximum of 5,000.

The product will also be available as an ISA, as part of the group's new promise that returns paid on its fixed rate ISAs will match or beat those paid on comparable fixed rate bonds.

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