Nationwide Member Exclusive Bond

slinger2

This year's bond is similar to last year's. 5%AER over 18 months. Maximum £10k. Down on last year's 5.5%.

aroominyork

Your point being...? Interest rates have reduced 4 x 0.25% during the last year so that's a good offer and not easily found elsewhere. 

clairec666

aroominyork said:

Your point being...? Interest rates have reduced 4 x 0.25% during the last year so that's a good offer and not easily found elsewhere. 

I think they're drawing attention to this because it's just been announced as part of "Fairer Share day".

Decent rate.

boingy

Has anyone opened one yet?
I just tried and got an error of "Something went wrong".
I'll try again later.

MarkFromCornwall

boingy said:

Has anyone opened one yet?
I just tried and got an error of "Something went wrong".
I'll try again later.

Yes.  Opened easily using NW website.

slinger2

MarkFromCornwall said:

boingy said:

Has anyone opened one yet?
I just tried and got an error of "Something went wrong".
I'll try again later.

Yes.  Opened easily using NW website.

Opened and funded mine too.

Bobblehat

How are people funding this bond on the day they open it? Other than shifting £10K into your own NWide current account before opening, is there a way to FP from another bank on the same day as opening it? Ignore COP?

Chaykin

This is a great offer for those who can but sadly I'm just not in position where I can "freeze" £10,000.00 for 18 months. May need access to it in case of any emergencies. T&Cs don't even mention early payout if you were to pass away!  

Hattie627

Chaykin said:

This is a great offer for those who can but sadly I'm just not in position where I can "freeze" £10,000.00 for 18 months. May need access to it in case of any emergencies. T&Cs don't even mention early payout if you were to pass away!  

Yes, I noticed the lack of a "passing away" or "other unforeseen circumstances at our discretion" exception to the "no access for the term of the account" rule. It may be in Nationwide's general savings T and Cs (haven't checked)

Kim_13

Hattie627 said:

Chaykin said:

This is a great offer for those who can but sadly I'm just not in position where I can "freeze" £10,000.00 for 18 months. May need access to it in case of any emergencies. T&Cs don't even mention early payout if you were to pass away!  

Yes, I noticed the lack of a "passing away" or "other unforeseen circumstances at our discretion" exception to the "no access for the term of the account" rule. It may be in Nationwide's general savings T and Cs (haven't checked)

Presumably they would have to pay the 5% for the remainder of the term to the estate, so as long as there were sufficient other funds to cover funeral and other expenses, and perhaps to pay out any specific gifts, would the lack of such a term be a problem?

boingy

MarkFromCornwall said:

boingy said:

Has anyone opened one yet?
I just tried and got an error of "Something went wrong".
I'll try again later.

Yes.  Opened easily using NW website.

Just tried again and it worked fine. Maybe their system was having a lie-in or something. ;p