Nationwide offers ‘exclusive savings accounts’ for customers – savers get up to 5% | Personal Finance | Finance
Their FlexDirect current account offers savers five percent interest on certain balances and an interest-free arranged overdraft for the first 12 months with the online current account. The five percent interest is available on balances up to £1,500.
This rate only lasts for the first 12 months and is only open to customers who haven’t had an account with the building society in the last year.
As the cost of living crisis continues there has never been a more important time to make sure people are getting the best savings rate.
The Nationwide FlexDirect account offers:
- Minimum pay-in: None (£1,000/month to get the interest)
- Interest: Five percent AER fixed for a year on up to £1,500
- Arranged overdrafts: Zero percent AER variable for one year.
If someone has had a FlexDirect account previously then they won’t get the high rate and will only be offered a lower interest rate of 0.25 percent.
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After 12 months, the interest rate on the account also drops to 0.25 percent so, after one year, people may want to look elsewhere for a better interest rate offer.
This is a great option for people who do not want to lock away their cash for a long time just to get a high interest rate offer.
Opening a FlexDirect is one way to become a member of Nationwide.
On the Nationwide website, it states: “Opening a FlexDirect is one way to become a member of Nationwide.
DON’T MISS
Savers can benefit from travel insurance for their family, worldwide:Customers get worldwide family travel insurance, including winter sports, golf, weddings and business cover from UK Insurance Limited.
Mobile phone insurance for the whole family: A customer’s phone and those belonging to their partner and dependent children are covered for loss, theft, damage and faults by Lifestyle Services Group Limited.
Vehicle breakdown cover in the UK and the rest of Europe: Whether an individual is driving or a passenger in a vehicle, they’re covered by the AA.
With no excess to pay and unlimited callouts. There’s no need to register before someone claims. They can benefit from all the insurances as soon as their FlexPlus is open.
It should be noted that customers will pay just £13 a month for maintaining the account.
