Nationwide has implemented a rule change which could hand customers up to £4,800.
The mutual has revised its ISA rates this week. Nationwide, which competes with HSBC UK, Santander, Lloyds, NatWest, Barclays and others, announced the one-year fixed cash ISA now pays 4.5 per cent AER, increasing to 4.55 per cent for the two-year variant. Both the three-year and five-year fixed ISAs deliver the top rate of 4.6 per cent AER for those prepared to lock away their money for longer periods, the building society has confirmed. According to Finder, the average UK saver holds £19,214 in reserve.
This means someone depositing that sum into Nationwide’s one-year ISA at 4.5 per cent would earn £860.58 in tax-free interest over 12 months.
Opting for the three-year fixed rate at 4.6 per cent would generate £2,762.37 over the full term, research demonstrates, reports Birmingham Live.
While the five-year option would yield £4,822.23.
Richard Stocker, head of savings at Nationwide, said: “We’re pleased to launch new higher rates across our Fixed rate ISA range with both short- and longer-term options.
“For those who require more flexibility we also have our Triple Access offering.
“All ISAs and rates are available in branch, by phone or online, as we know customers value choice in how they bank, which is why we’ve extended our Branch Promise.
“Customers can also make use of our in app budgeting tool to help them manage their money.”
Nationwide added: “This means older versions of these products will no longer be available for new account openings from 6th May 2026 onwards.
“For more information on Nationwide’s savings range, visit nationwide.co.uk.”
The full range of rates on offer are as follows:
- 1 Year Fixed Rate Cash ISA – 4.50% AER/Tax-free (fixed)
- 2 Year Fixed Rate Cash ISA – 4.55% AER/Tax-free (fixed)
- 3 Year Fixed Rate Cash ISA – 4.60% AER/Tax-free (fixed)
- 5 Year Fixed Rate Cash ISA – 4.60% AER/Tax-free (fixed)
- 1 Year Triple Access ISA – 3.30% AER/Tax-free (variable) (1.05% after 4 or more withdrawals)
- 1 Year Single Access Saver – 3.30% AER/Gross a year (variable) (1.05% after 4 or more withdrawals)