Nationwide has a number of ISA’s that pay competitive rates of interest.
The Instant ISA Saver could be useful if you need to withdraw your money. This ISA allows unlimited withdrawals and, if you wanted to replace funds later, you can do so within the same tax year without it affecting your allowance. Despite this flexibility, the ISA still pays a very competitive rate on all balances over £1, with interest calculated daily and paid once a year.
If you’re already a Nationwide customer, you can benefit from the same flexibility as the Instant ISA Saver while getting an even better interest rate. The Flexclusive ISA, available to main current account customers.
If you’re sure you won’t need to access your funds for a year, you could open a 1 year Fixed Rate ISA. Nationwide will reward you for locking the funds away with a slightly better interest rate. Remember, if you did need the funds back you would need to close the account which will incur an early access charge.
If you’re able to invest for two years, there’s the 2 year Fixed Rate ISA. This operates with the same conditions as the 1 year ISA but this time for a two-year period. Again, if you’re able to leave the money invested, you can benefit from a better rate due to leaving the money in for longer..
If you’re a first-time buyer, the Help to Buy ISA could give your savings a boost. Invest an initial amount of up to £1,200 and then up to £200 each month and you’ll earn a higher interest. When you’re ready to buy a property, your solicitor can also claim you a bonus of 25% of your closing balance to put towards your purchase. The minimum bonus is £400 (on savings of £1,600) and the maximum bonus on savings of £12,000 and above is £3,000.