The world’s largest building society has made an announcement
A Nationwide Building Society branch(Image: Getty)
Both new and existing Nationwide customers stand to gain just over £650 on average, according to emails recently sent to members.
The world’s largest building society has unveiled its latest ISA rates, declaring: “Open a cash ISA now and get up to 4.25%. And because you’re saving tax free, you keep every penny of interest you earn.” Those transferring their money into any of these accounts could receive the extra cash, assuming they meet specific requirements. At the moment, Nationwide provides four fixed rate cash ISAs, with rates climbing to 4.25%.
A 2025 Finder survey revealed the typical savings balance held by UK residents is £16,067. Should this amount be placed into a one-year fixed rate cash ISA with Nationwide, offering a 4.05% interest rate, savers would be £650.71 richer after twelve months.
The five-year fixed rate cash ISA features a 4.25% interest rate, which means typical savers would be a considerable £3,717.05 wealthier at the term’s conclusion – although this requires keeping your funds locked away for the full five years.
Applicants need to be UK residents, Crown employees stationed abroad, or partners of Crown employees, Nationwide confirmed. You’ll also need to be aged 18 or above, and mustn’t have used up your yearly ISA allowance.
During this tax year, you’re permitted to deposit up to £20,000 across your ISAs with any provider, reports the Mirror. If you need access to your money prior to the fixed term ending, the account will be shut and an early withdrawal penalty will be imposed.