Nationwide Member's Bond

lindabea

In previous years, in addition to the £100 payment scheme Nationwide have made an 18month fixed rate bond available to members.  If they do it again this year, I am wondering if the bond would exclude members who took it out last year on the basis that you can only have one active bond.  If that's the case, it means you can only open this type of bond every other year.  Does anyone have any input on this?? 

masonic

It's anybody's guess whether or not they would do this, or whether the rate would be tempting enough to care. Let's wait and see what they actually do.

boingy

Yep, none of us can know unless we are a NW insider.
I did think it was odd of them to choose 18 months as the duration but that didn't stop me opening one.

allegro120

lindabea said:

In previous years, in addition to the £100 payment scheme Nationwide have made an 18month fixed rate bond available to members.  If they do it again this year, I am wondering if the bond would exclude members who took it out last year on the basis that you can only have one active bond.  If that's the case, it means you can only open this type of bond every other year.  Does anyone have any input on this?? 

Is it £10k 5.5% Member Exclusive Online Bond?  I wouldn't expect it to be a regular occurrence.  Mine matures at the end of November and I don't have any expectations of competitive maturity options.

However if they do release another product like this, I doubt your current bond will have any impact on opening the new one.

slinger2

Actually the 2023 Fairer Share Bond was a 2 year issue:

"Nationwide Fairer Share Bond is exclusively for existing members who were a member on the 18 May 2023 and are still a member when they apply. It offers a rate of 4.75% AER/gross a year (fixed) for 2 years and will only be available for a limited time. And can be opened through the Internet Bank, in our Banking app or in branch."

Mine matures later this month. Not my best investment but not my worst either. I've got the 2024 version too, paying 5.50%, but that doesn't mature until November.

lindabea

SLINGER2 Thank you for your reply.  It would appear from your reply that you can have more than one of these Fairer share Bonds since clearly, you opened the 2024 version when you already had the 2023 version.  . 

slinger2

lindabea said:

SLINGER2 Thank you for your reply.  It would appear from your reply that you can have more than one of these Fairer share Bonds since clearly, you opened the 2024 version when you already had the 2023 version.  . 

That's right. Currently I have both. The 2024 version was a more generous interest rate but was capped at £10,000. It'll be interesting to see what they come up with for 2025.