Nationwide 18 month Member Exclusive ISA maturing?

howryoo

SonOfPearl said:

I have received a letter from Nationwide today regarding my maturity options. I decided to renew for 1 year, and was pleased to see that when I did this online the rate was 3.25% (despite the paperwork in the letter stating the rate was 2.75%). The rate must have just been increased. 

Thanks for highlighting this.  Looks like they're pre-empting the expected BoE increase.

The Santander 3% fixed with £50 voucher on transfers in is still tempting on those with 10k+, but with Nationwide's offer of 3.25%, you'd get that £50 if you invest at least 20k.

You might be better off if you had 30k, 40k+ with Nationwide? 

Silverbird65

I just was able to reinvest although my acct matured today. The funds were still in matured fixed rate funds. Let's see what happens . Be great if I get 3.25

isasmurf

howryoo said:

SonOfPearl said:

I have received a letter from Nationwide today regarding my maturity options. I decided to renew for 1 year, and was pleased to see that when I did this online the rate was 3.25% (despite the paperwork in the letter stating the rate was 2.75%). The rate must have just been increased. 

Thanks for highlighting this.  Looks like they're pre-empting the expected BoE increase.

The Santander 3% fixed with £50 voucher on transfers in is still tempting on those with 10k+, but with Nationwide's offer of 3.25%, you'd get that £50 if you invest at least 20k.

You might be better off if you had 30k, 40k+ with Nationwide? 

More likely, they are not getting the expected retention with too many transferring to the (then) better rates offered by Santander and VM. 

Silverbird65

My funds have disappeared from my maturity funds acct with zilch I terest so looks like they allowed my request let's see🥺

savit4l8er

refluxer said:

savit4l8er said:

Quite liking the Virgin and Santander offerings just now, still have a couple of weeks until maturity to make a decision. 

With the expected rate rise announcement coming tomorrow, that could actually be good timing. With the recent 1 year fixed rate Cash ISA rate increases, there are a fair few providers who normally feature in the top tables who've been left behind (banks like OakNorth, Paragon, Shawbrook etc) and they'll need to beat these latest 3%+ rates if they want to remain competitive. 

😊 I had been thinking the same and feel as though I am in a relatively good position if you can say that when inflation is so much higher.  Ideally, would prefer NW to do something spectacular in the next 16 days. 

Thank you for your helpful comment. 👍

Silverbird65

They have put rates up today to 3.25%

savit4l8er

Now showing on the web page.


Still other contenders so need to study everything including penalties but it looks as though they are trying. A member special could be good. 

These could be said to be a bit steep compared to some.  

hamski

My wife opted for 1 year option a few weeks ago when rate was 2.35% , it’s now showing as 2.75% , she tells me that nationwide will increase the rate to the latest offer for this isa. 

hamski

For clarification the increased rate would only apply until the new account is opened

StevieD54

Silverbird65 said:

They have put rates up today to 3.25%

I can’t see these 1,2 & 3 year ISA fixes on the Nationwide website, only a Triple access one and an Inheritance one.  Perhaps it’s updating?  Can you point me to this 3.25% deal?