Nationwide Building Society has recently launched its One Year and Two Year Fixed Rate ISAs with competitive AER rates of 4.50% and 4.20% respectively. Ideal for savers with a lump sum who do not require immediate access to funds, these ISAs promise tax-free interest earnings. Customers depositing the maximum amount can make significant interest gains upon maturity, making them a smart choice for long-term savings. However, they might not cater to those who prefer regular access to their finances, considering they involve a fixed savings term. Further, the 2024/25 ISA allowance remains at £20,000, ensuring sizable tax-efficient saving opportunities.
Nationwide's One Year Fixed Rate ISA offers a 4.50% AER and allows savers to securely invest their money with tax-free interest, ideal for those who don't need immediate access.
Savers depositing the maximum of £20,000 into Nationwide’s Fixed Rate ISA can expect to earn around £900 in tax-free interest upon maturity, highlighting its potential for growth.
Designed for individuals looking to lock their funds away for a fixed term, these ISAs are not suitable for those needing regular access to their savings.
With the ISA allowance for the 2024/25 tax year set at £20,000, Nationwide's ISAs provide a beneficial option for tax-efficient savings.
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