Nationwide International has announced increases to the interest rates payable on two of its offshore savings accounts.
The Lifetime Guarantee account will now pay 6.65% gross for the first year – an increase of 0.25%. The interest rate available to savers requiring monthly interest payments rises to 6.45% a year. After the first year the account offers a guaranteed link to the Bank of England base rate (0.3% below base rate until January 2011, and no less than 1% below base rate thereafter, or 0.65% and 1.35% below base rate for monthly interest).
Also linked to the Bank rate, the Base Rate Tracker Premium account has seen an increase of 0.05% in the premium it pays over the base rate. The premium is now up to 1.3% over base rate for the first year (for deposits over £25,000). After the first year the rate is guaranteed to be no lower than 0.25% below the base rate until 1 January 2010 (0.6% for monthly interest).
Nationwide has reduced rates on its US dollar accounts, however, to take account of recent changes to the Fed funds rate. All dollar rates have been cut by 0.25%. All other sterling and euro accounts are unchanged.
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