Inflation: Experts outline the impact on savings and investments
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The building society confirmed today (April 28) that it will be increasing the rates on its instant and limited access savings accounts. Savers who use these accounts are set to enjoy a hike of up to 0.25 percent which comes as various banks and building societies look to raise their rates in line with the recent increase to the Bank of England base rate. As part of its remit, Nationwide has stated it will continue to keep all of its savings rates under review to make sure it is supporting savers.
Nationwide’s limited access accounts which will experience a 0.25 percent rake hike include the Single Access ISA, e-Savings Plus and Limited Access Saver.
Furthermore, the rate of the building society’s loyalty accounts, such as the Loyalty Saver, Loyalty ISA and Loyalty Single Access ISA, will be raised from 0.40 percent AER to 0.50 percent AER.
While this is happening, Nationwide is set to be raising the increasing rates on all its instant access accounts.
This will include the Instant Access Saver, Instant ISA Saver and Cashbuilder, with all accounts going up by 0.10 percent to either 0.11 percent, 0.13 percent or 0.15 percent AER.
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