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Nationwide Building society improves rate on online savings account

Mon, 01 Nov 2010

Nationwide has improved the rate of one of its online savings accounts .

The building society recently announced that it is to increase the bonus rate on one of its online savings accounts for both new and existing customers in the UK who hold an account that accepts direct debit payments.

This offer is applicable to the lender's newly launched MySave Online Plus, which initially had a benefit rate of 1.1 per cent gross per annum, but has now been increased by a further 0.35 per cent.

As a result of this, the account will now pay an overall annual equivalent rate of 2.95 per cent, a figure which may appeal to those who want to make the most of their money following the recession. Further, this online product could be popular as Jason Butler, of Bloomsbury Financial Planning, said recently that traditional savings accounts are now not as common in the UK.
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