Nationwide 3 year on line fix bonds

eligre

Hello Martin
i have a 3 year online fixed rate bond with Nationwide, which currently pays 1.35% interest and is coming towards the end of its first year. Is there any way at all I can terminate this bond and open another with a much higher interest rate.
Thanks

Johnjdc

Not usually unless it's in an ISA. Fixed almost always means fixed.

[edit yeah the e-bond might be a loophole]

refluxer

If you definitely opened a Nationwide Fixed Rate Online Bond, then you can't withdraw money or close the account before the maturity date, unfortunately.

If you opened a Nationwide Fixed Rate e-Bond then you can close your account, but you would have to pay a penalty for doing so.

The differences between these two different types of Nationwide fixed rate bonds is described here : https://www.nationwide.co.uk/savings/help/bond-differences/