Nationwide increases savings account rates

Nationwide has lifted rates on a range of its savings accounts.

Individuals wanting to take advantage of the best ISA rates available on the market in the wake of the recession may be interested in a new range of offers from one financier.

As of earlier this week (September 6th), Nationwide announced it has increased rates attached to many of its savings accounts, including its fixed rate bonds and ISA deals.

For instance, both six-month and one-year bond packages will now be subject to raised figures of 0.2 per cent, while the lender has also created a fresh two-year alternative offering a gross annual return of between 2.95 and 3.2 per cent.

Meanwhile, the company's one-year fixed ISA product has been boosted by 0.2 per cent to between 2.85 and 3.1 per cent tax free.

Richard Marriott, head of savings at Nationwide, observed: "Our extensive range offers savers the variety to choose a product to help suit those needs."

Recently, research by Lloyds TSB revealed many parents aim to open a savings account for their child as soon as possible following their birth.

By Nate Sawyer