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Nationwide increases rate of interest to five% on popular FlexDirect account | Personal Finance | Finance

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Nationwide is a preferred constructing society, and draws in lots of of hundreds of savers annually. As many banks and constructing societies step up their offers, Nationwide is doing the identical with a very enticing rate of interest.

Today, it’s increasing the introductory credit rate of interest on its FlexDirect account to a market-leading five percent.

This rate might be available for brand new applications opened from June 21, on balances as much as £1,500 for the primary 12 months.

Savers who’re switching their current account may even have the option to profit from Nationwide’s switching incentive.

It’s offering £125 to existing members who make the switch, and £100 to brand recent customers.

READ MORE: Retirement and me: Couple explain how they retired at 35 and 40

While the FlexDirect account offers an introductory rate of 5 percent, this does change over time.

After 12 months, the account pays 0.25 percent variable.

Britons can open the account online or in branch, and it may possibly even be operated online.

Members might want to pay in £1,000 per 30 days, not counting transfers from other Nationwide accounts or VISA credits.

To qualify, switches have to be created from one other provider using the Current Account Switch Service and a minimum of two energetic Direct Debits have to be transferred as a part of the switch and arrange on the brand new account. 

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