Nationwide makes big change for some accounts this week as rates announced | Personal Finance | Finance

Nationwide has implemented a significant regulation for account holders and announced a number of new rates. The high street lender has confirmed this week that it is changing interest rates on new Fixed Rate ISAs.

All previous prices have been withdrawn from sale. Richard Stocker, Savings Manager, said: “We’re pleased to offer new higher rates across our range of ISAs and Bonds, with both short- and long-term options. All ISAs and rates are available in-branch over the phone or online because we know customers value choice in their banking, so we’ve extended our Branch Promise. Customers can also use our in-app budgeting tool to help them manage their money.”

The construction industry raised rates days before the end of the tax year to encourage savers to look for the best deals to make the most of their tax-free allowance before April 5.

It currently tops the three- and five-year cash ISA lists, offering 4.5% on both. The one-year ISA’s rate is 4.35%, which is higher than most high street rivals. HSBC offers 4.5% but this is only available to current account holders.

New ISA rates nationwide:

• 1 Year Fixed Interest Cash ISA – 4.35% AER/No Tax (fixed)
• 2 Year Fixed Interest Cash ISA – 4.40% AER/No Tax (fixed)
• 3 Year Fixed Interest Cash ISA – 4.50% AER/No Tax (fixed)
• 5 Year Fixed Interest Cash ISA – 4.50% AER/No Tax (fixed)
• 1 Year Fixed Interest Online Bond – 4.00% AER/Gross per annum (fixed)
• 2 Year Fixed Interest Online Bond – 4.00% AER/Gross per annum (fixed)
• 3 Year Fixed Interest Online Bond – 4.00% AER/Gross per annum (fixed)
• 1 Year Fixed Interest Branch Bond – 4.00% AER/Gross per annum (fixed)
• 2 Year Fixed Interest Branch Bond – 4.00% AER/Gross per annum (fixed)
• 3 Year Fixed Interest Branch Bond – 4.00% AER/Gross per annum (fixed)

It’s the same story for Nationwide’s two-year 4.4% cash ISA. Although much higher than its main rivals, Furness Building beat it slightly with a rate of 4.5%.

The Private Office savings expert Anna Bowes said the new rates were “very competitive”.

“It’s great to see high street providers in the best buy tables as we know that savers prefer to choose a brand they are familiar with, so it is good news that they are also the best or at least very competitively priced,” he said.

A major change to ISAs is coming. From the April 2027 tax year, the current £20,000 allowance will effectively be reduced so that only £12,000 will be available for money deposited into any type of ISA.

The remaining £8,000 will need to be used for investment-based ISAs.

In other developments, Nationwide recently launched access guides for more than 500 of its branches, with guides for all 605 branches due to be published by the summer. Head of Customer Accessibility Kathryn Townsend highlighted the update in a Facebook post, explaining that Nationwide partnered with accessibility experts AccessAble to create the guides. In the announcement, Nationwide said: “Around one in four people in the UK live with access needs. That’s why we’re working with AccessAble to provide detailed visual access guides for all 605 of our branches, providing clear information on disabled access before your visit.”

The guides, available through Nationwide’s branch locator, highlight features such as step-free entry, hearing loops, lowered counters and British Sign Language (BSL) interpreters. It has also been promised to keep all 605 branches across the country operational until at least 2030.

AccessAble Founder and Chairman of the Board Dr. Gregory Burke said: “Clear, detailed accessibility information should be seen as a fundamental consumer right that gives disabled people the confidence to plan and promotes dignity and independence, an approach we have developed over 25 years in collaboration with more than 1,500 disability groups.