Nationwide Bonus Saver

debsue

Hi, does anyone know if you are able to withdraw once without it affecting your bonus?

Thanks

bristolleedsfan

debsue wrote: »

Hi, does anyone know if you are able to withdraw once without it affecting your bonus?

Thanks

to earn the fab ( not) rate of 5.15% gross nope no withdrawals a year :eek:

nationwide are "proud to be different"

- Bonus Saver rates include a 3.25% gross p.a. (2.60% net p.a.) bonus which is variable, and is credited to the account annually if between £20 and £5,000 is saved for at least 11 out of 12 months and no withdrawals are made.

debsue

Thanks for your reply. We have over 20K in there and save £100/month. Where would you put it for a better rate?

Thanks

mancitychick

They do allow you to make one witherdrawal without it affecting your bonus. However this withdrawal has to be made by the end of the month following your bonus payment. I.E. I got my bonus in December and the accompanying letter said that I could make a withdrawal before the end of jan without it affecting next years bonus.

LittleVoice

For £100/ month you can earn 5.75% in the Nationwide Regular Saver account.

On your £20K, you can earn a little more (and subject to possible future increases following base rate increase) with organisations like Alliance & Leicester - but watch the withdrawal terms. See the best rate articles on MSE.

bristolleedsfan

debsue wrote: »

Thanks for your reply. We have over 20K in there and save £100/month. Where would you put it for a better rate?

Thanks

if u happy to tie it up for 12 months u might like idea of a 6.25% gross i year fixed bond, other idea would be to put it in the best online account u can and drip feed say 500.00 a month into yorkshire RS ( 7% gross) and monmouth reg saver BS ( up to 1000 a month) 6.25% gross

wonderfull arent nationwide(not) re other post that they will allow u to do 1 withdrawal in a certain month of the year

u have to watch nationwides new reg saver as well cos if a significant amount of capital is withdrawn in a month then a low rate of interest is paid on the whole balance during that month of withdrawal

u cant really do anything until your bonus year is up then act after its been paid as 20000 paying 5.15% gross is abysmal imho :eek:

RussWWFC

I've got one of these accounts, with £2200 in - been saving £20 a month for about 12 years now.

When I signed up it was a great account but I'd be interested in seeing if I can get a better rate with a simple instant access account., can't even find the current rate on the Nationwide site

Milarky

Wasn't there some relaxation of the terms on existing Bonus Saver accounts when Nationwide launched its Regular Saver and made the BS a closed issue?

Ah, found it!

http://www.nationwide.co.uk/mediacentre/PressRelease_this.asp?ID=942
Date issued: 22 Jan 2007
"NATIONWIDE LAUNCHES REGULAR SAVINGS ACCOUNT"

Notes to editors :

1. Bonus Saver will be closed to new business from the 23 January 2007. Members who hold a Bonus Saver account can transfer all or part of their balance to another Nationwide savings account without notice or penalty – subject to the terms and conditions of the account chosen.

It's rather old but it may still apply - worth asking Nationwide

bristolleedsfan

RussWWFC wrote: »

I've got one of these accounts, with £2200 in - been saving £20 a month for about 12 years now.

When I signed up it was a great account but I'd be interested in seeing if I can get a better rate with a simple instant access account., can't even find the current rate on the Nationwide site

Im only answering the "cant see it on website" and the "what if i make a withdrawal" points. ( not the point made by Milarky)

http://www.nationwide.co.uk/savings/rates.htm

( Look under accounts no longer available, is second one down)

2 - Bonus Saver rates include a 3.25% gross p.a. (2.60% net p.a.) bonus which is variable, and is credited to the account annually if between £20 and £5,000 is saved for at least 11 out of 12 months and no withdrawals are made.