Our new interest rates
On 19 March 2020, the Bank of England reduced Base Rate further to 0.10%. Whenever this happens, it can affect our customers, as it often means our rates have to change too.
On this occasion, we’ve had to make the difficult decision to make changes to some of our business savings interest rates.
What’s changing?
You'll receive a letter detailing what your new rate will be and these changes will come into effect from 22 April 2020.
We're going to be reducing:
- Instant Access Saver accounts by up to 0.05%
- 45 Day Saver accounts by up to 0.15%
- 95 Day Saver accounts by up to 0.20%
- 125 Day Saver accounts by up to 0.25%
What do I need to do?
You don’t need to do anything if you’d like to continue saving with us. If you decide you want to close or switch your account, please get in touch with us.
If you choose to close or switch your account before Thursday 7 May 2020, we won’t require any notice and you won't incur any charges or interest deductions. After this date you'll have to provide any notice period your account may be subject to.
If you're thinking about how to make the most of your business savings, we offer a range of business savings accounts which may suit your needs, and you can find out more about all of these and the interest rates offered at nationwidecommercial.co.uk/business-savings