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NW Flexclusive Regular Saver. Any Change in Interest Rate?

scoot65
Posts: 487 Forumite


I'm thinking about opening a Nationwide Flexclusive Regular Saver.
I've read that various banks / building societies are reducing their interest rates and was I wondering in anyone has seen anything that NW are changing the interest rate on the Flexclusive Regular Saver? ....... I may have missed the notification.
I've read that various banks / building societies are reducing their interest rates and was I wondering in anyone has seen anything that NW are changing the interest rate on the Flexclusive Regular Saver? ....... I may have missed the notification.
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Comments
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Not that I've seen and I'm in the Nationwide app and on their site most days.0
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Thanks for the reply.
There's been quite a few changes to rates recently and thought I may have missed something.
Thanks again!0 -
It'll probably happen in February, conveniently before my present one expires0
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It'll probably happen in February, conveniently before my present one expires
My money is on early December, just prior to the first accounts maturing. Reckon it will be a new issue. So although the rate is variable those with one already will see a full year at 5%
NOTE: total speculation on my part and no inside knowledge what so ever.0 -
It'll probably happen in February, conveniently before my present one expires
If I was the OP I wouldn't be "thinking" about opening it for long though...I'd do it ASAP.0 -
It'll probably happen in February, conveniently before my present one expires
Most people including me opened our Flexclusive regular saver around beginning of December last year when the account was launched so it's more likely the will announce a rate reduction early next month.
The rate is variable not fixed unfortunately so they could announce a rate reduction after you've opened your second Flexclusive regular saver account.0 -
Thanks for the replies, guys.
I took YorkshireBoy's advice......... account now opened!!!
Thanks again fellas.0 -
The first batch of regular saver will mature on the 30th November, I will think the rate will drop once interest has been paid. (in line with other banks, speculation no inside knowledge)
I will be attempting to open a new one as soon as the regular saver is transferred into a flex saver, and if the rate drops, ill work out where it fits in with the rest of my regular savers, that are maturing every other month.
Just a waiting game now as my last payment has been transferred, on the 1st.I’m a Forum Ambassador and I support the Forum Team on the Banking & Borrowing, and Reduce Debt & Boost Income boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySaving Expert.Save 12k in 2023 #58 Total (£4500.00) £2500.00/£5000 = 50.00%Sealed Pot Challenge ~17 #24 Total (£55.00) £0.00/£500 = 0.00%Xmas 2023 £1 a Day #13 Total (£85.00) £344.00/£365 = 94.24%Virtual Sealed Pot #1 Total (£500) £550.00/£500 = 110.00%£2 Savers Club 2023 #17 Total (£25.00) £45/£300 = 15.00%The 365 1p Challenge 2023 #7 Total £656.19/£667.95 = 98.23%Total £4095.19/£7332.95 = 55.84%0 -
The one thing that could support them keeping it at 5% for slightly longer is the fact that they've sent out a letter to people with accounts maturing on 1 December which mentions about opening another one at 5%. Obviously nothing near a guarantee though.
EDIT: That said, it is variable interest - so not sure what could stop them lowering it hugely for existing accounts.0 -
I am hoping to bag a new Flexclusive Reg Saver after the 1st of December. Anyone tried downgrading their FlexDirect to FlexAccount after having the Flexclusive Reg Saver opened and have both running smoothly?
Save 12K in 2020 # 38 £0/£20,0000
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