Nationwide members offered loyalty bond

Thu, 26 May 2005

Nationwide Building Society announced the launch of their tenth loyalty product for members, to be available from the end of the week.

The new Members' Summer Bond is a one-year bond is being offered to members who have been with Nationwide for three years or more.

The bond can be opened with just £1, and offers a rate of 5.50 per cent gross p.a./AER.

This loyalty product, launched in the seventh year of the loyalty scheme, follows the success of previous loyalty products.

Nationwide's marketing director, Steve Clode, said: "We believe it is important to reward loyalty and our Members' Fixed Rate Bonds have always proved very popular.

"Therefore, we are delighted to be offering Nationwide members one of the best available rates for a lump sum of up to £5,000," he added.

The maximum investment possible is £5,000 for sole accounts, or £10,000 for a joint account.

Mr Clode said even for those who only want to invest a small amount, the bond would give "an excellent return".

Nationwide is the UK's fourth largest mortgage lender and seventh largest retail banking, saving and lending organisation by asset size. It is the largest building society in the world and is committed to staying mutual.

Mortgages, savings accounts, current accounts, credit cards, life insurance, investment products, personal loans and household insurance are all available from the Nationwide Group.

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