Nationwide update for millions of customers with £1 to £20,000 in bank account

The building society, which is the largest in the UK, is launching a new Fixed Rate Cash ISA, Fixed Rate Bond and Fixed Rate Branch Bonds.

Nationwide has issued new Fixed Rate Cash ISAs and Fixed Rate Bonds. The building society, which is the largest in the UK, is launching a new Fixed Rate Cash ISA, Fixed Rate Bond and Fixed Rate Branch Bonds.

The rates are available for balances of £1 or more and savers can open the Online Bonds via the website, Internet Bank and Banking app while Fixed Rate Branch Bonds can be opened in branch.

Nationwide’s fixed Rate Cash ISAs accept transfers in and can be opened via the Internet Bank, Banking app or in a branch. Nationwide is the world's largest building society, with over 17 million customers, 16 million of whom have a current account, mortgage or savings product, and are therefore members of the Society.

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The new rates are:

Fixed Rate Cash ISA, 1 year fix, 4.00 per cent

Fixed Rate Cash ISA, 2 year fix, 3.80 per cent

Fixed Rate Bond, 1 year fix, 4.00 per cent

Fixed Rate Bond, 2 year fix, 3.80 per cent

Fixed Rate Branch Bond, 1 year fix, 4.00 per cent

Fixed Rate Branch Bond, 2 year fix, 3.80 per cent

Nationwide has over 18,000 employees, including those based in its headquarters in Swindon, and those working in its network of over 600 branches across the UK.

Nationwide is the UK's third largest mortgage provider and holds almost £1 in every £10 saved in the UK, as well as one in ten of the UK's current accounts.

With a cash ISA, you pay no tax on the interest you earn, so you could get more for your money. This tax year, you can pay in up to £20,000 across your ISAs. This is your ISA allowance. Only the money you have deposited this tax year counts towards your allowance: the interest you have earned and transferring an ISA that holds money you saved in a previous tax year do not count.

If you are 18 or over, you can open multiple cash ISAs and stocks and shares ISAs within a tax year. Some providers will allow you to open multiple ISAs of the same type with them, for example 3 cash ISAs. However, others might only allow you to open 1 cash ISA with them at a time.

Your annual ISA allowance of £20,000 is shared between all your ISAs, across all providers.