Nationwide International has reduced savings rates for its US dollar offshore accounts following the cut to the US Federal Reserve Base Rate in December.
From 16 January, the US Dollar Tracker Premium will pay up to 0.5% gross p.a./AER, while the US Dollar Savings will pay up to 0.25% gross p.a./AER. Year one of the US Dollar Tracker Premium used to pay 1.7% gross p.a./AER but now pays 0.3% for investors with between $5,000 and $49,999. Investors with over $50,000 formerly received 2% gross p.a./AER and now get 0.5%. After the first year, all investors will receive 0.25% gross p.a./AER but used to get 0.75%. During year one, investors in US Dollar Tracker Premium are guaranteed annual or deferred interest to be no lower than base rate....
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