We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Nationwide 3 year on line fix bonds

eligre
eligre Posts: 1 Newbie
First Anniversary
in Savings & investments
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

Comments

  • Johnjdc
    Johnjdc Posts: 399 Forumite
    Tenth Anniversary 100 Posts Name Dropper
    edited 15 December 2022 at 2:47PM
    Not usually unless it's in an ISA. Fixed almost always means fixed.

    [edit yeah the e-bond might be a loophole]
  • refluxer
    refluxer Posts: 3,503 Forumite
    Fifth Anniversary 1,000 Posts Photogenic Name Dropper
    edited 15 December 2022 at 2:25PM
    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/
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354.4K Banking & Borrowing
  • 254.4K Reduce Debt & Boost Income
  • 455.4K Spending & Discounts
  • 247.3K Work, Benefits & Business
  • 604K Mortgages, Homes & Bills
  • 178.4K Life & Family
  • 261.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture