Nationwide Building Society has launched a range of competitive fixed savings accounts and ISAs, paying interest rates of up to 4.10 percent.
Providing an accessible savings option, customers can get started with just £1 and interest is paid on the anniversary of the account opening.
The new deals include a One Year Fixed Rate Online Bond and a One Year Fixed Rate Branch Bond, both paying an Annual Equivalent Rate (AER) of 4 percent.
In addition to these, the building society has launched a new One Year Fixed Rate Cash ISA with 4.10 percent AER/tax-free.
Savers can open the Online Bonds via the website, Internet Bank and Banking app while Fixed Rate Branch Bonds can be opened in a branch.
Nationwide’s Fixed Rate Cash ISAs accept transfers in and can be opened via the website, Internet Bank, Banking app or in branch.
Withdrawals can be made from the Cash ISA, but a charge Equivalent to 90 days’ interest will be applied.
However, savers won’t be able to access funds in fixed-rate bonds, as withdrawals are typically not allowed with these accounts.
But while the deals may be appealing, they aren’t topping the tables in their respective savings sectors.
The top one-year fixed rate is currently being offered by Atom Bank, with an AER of 4.8 percent.
Savers can get started with a minimum £50 deposit and up to £100,000 can be invested overall. Interest is paid on the anniversary of opening and withdrawals are not allowed until the term ends.
For savers with small deposits looking to open a Cash ISA, Virgin Money is offering the top AER of 4.51 percent.
There is no minimum deposit to get started, and interest is paid at maturity. Earlier access is permitted but will subject the saver to a 60-day loss of interest.
Savers are being urged to cash in on higher interest rates while they still can. The Bank of England lowered central interest rates earlier this week to 4.75 percent, and markets expect this trend to continue into the new year.
Myron Jobson, senior personal finance analyst at interactive investor, said: “Savings rates have seen little change in recent weeks, but the overall trend has been downwards since the start of the year in anticipation of the BoE lowering rates in the future.
“Falling interest rates present an opportunity to revisit and adjust your savings strategy. The simple message is to act quickly to secure the best savings deals before they are gone. The best savings rates are seemingly on borrowed time.”
