Breaking News: Nationwide Slashes Interest Rates on Over 60 Savings Accounts!
Account holders nationwide are set to experience modifications starting from today in their bank accounts; it is suggested that account holders verify their account details immediately.
Get ready, savers! Millions of you using Nationwide will experience a shake-up as the building society slashes interest rates on more than 60 accounts, effective today.
From easy-access ISAs to children's accounts, Nationwide has announced that it's slashing rates. The Branch Smart Limited Child account, for instance, is dropping from 3.05% to 2.85%, provided one or no withdrawals have been made. However, customers who have made two or more withdrawals won't see their 1.80% interest rate change.
Simultaneously, Continue to Save account interest rates are tumbling from 2.10% to 2%. Even the Help to Buy: ISA account is dropping 0.2 percentage points, from 3.10% to 2.90%.
If you've got a Branch Flex Saver account with a balance between £0.01 and £9,999, your interest rate will drop from 1.85% to 1.60%. With a balance of £10,000 to £49,999, the rate will fall from 1.90% to 1.65%.
Check the table below to see the changes on each savings account:
| Account Type | Current Rate | New Rate ||----------------------------|---------------|---------------------------------|| Branch Smart Limited Child | 3.05% | 2.85% || Continue to Save | 2.10% | 2.00% || Help to Buy: ISA | 3.10% | 2.90% || Branch Flex Saver | 1.85% | 1.60% |
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Act Now to Maximize Your Savings!
Unable to get decent returns on Nationwide? Don't stay idle! Explore other high-yield savings account options. Use price comparison sites such as moneysavingexpert.com or moneyfactscompare.co.uk to find the best deals on the market. Mind the bonus rates that often last for a specific period, as they may fall off later. Make a note to switch when those bonus rates expire. Some accounts may offer additional perks, making them more attractive.
Research on websites such as MoneyFacts or comparison sites including Compare the Market and Go Compare will show you what's available. These websites let you tailor your search to the account type that best suits you.
Key Takeaways:
- Nationwide cuts interest rates on 60+ savings accounts from June 1, 2025, following the Bank of England's base rate reductions.
- The switch impacts various products, including easy-access savers and Cash ISAs, with reduced interest rates across the board.
- The exact new rates per account type have not been provided, but the general trend is a decrease in returns.
Stay tuned for more updates on savings rates and money tips! 📈💰🌟
- In light of Nationwide reducing interest rates on over 60 savings accounts, it is crucial for investors in the field of personal-finance to consider alternative high-yield savings account options from other financial institutions.
- As the banking-and-insurance sector evolves, it is essential for individuals to keep a close eye on savings account rates to make informed decisions and ensure their hard-earned money is properly invested in the finance industry.
