Nationwide: 2.7% on offshore account

Friday, 22 May 2009 12:00

Nationwide is offering interest rates of up to 2.7 per cent on the newly-issued version of its Sterling Lifetime Guarantee Account.

The offshore account is available for savers with a minimum of £5,000 to deposit and offers the headline interest rate for the first year the account is open.

After that, Nationwide guaranteed interest will be paid at no less than 0.30 per cent below the Bank of England base rate until March 31st, 2011 for customers earning interest annually.

After that the rate will not fall below one per cent less than the base rate.

Customers taking monthly interest are guaranteed rates of no less than 0.65 per cent below the base rate until March 31st, 2011 said it would not fall below 1.35 per cent thereafter.

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