Six per cent bond from Nationwide

Nationwide Building Society is to launch a new two-year fixed rate bond, which rewards long-term customers.

11:38 03 June 2004

Nationwide Building Society is to launch a new two-year fixed rate bond, which rewards long-term customers.

With a rate of six per cent gross p.a., the "Members' Summer Bond" is available to customers who have been with the Society for three years or more.

The new product will be officially launched next Monday, June 7th, and is set to be one of the most competitive savings rate for a lump sum of up to 5,000.

Nationwide's executive director, Stuart Bernau, said: "We believe it is important to reward loyalty and our Members' Fixed Rate Bonds have always proved very popular."

He further added: "Therefore we're delighted to be offering Nationwide members one of the best available rates for a lump sum of up to 5,000. Members will receive six per cent gross p.a. interest on the Summer Bond throughout the two years, giving them an excellent return on their money."

Customers can open a bond with as little as 1, and those who decide to invest the maximum of 5,000 can expect to have received more than 600 in interest by the time the bond matures in June 2006.

Members investing in the Summer Bond can also choose to have interest paid monthly, at a rate of 5.80 per cent gross monthly (5.96 per cent AER).