Nationwide customers are being given the chance to earn hundreds of pounds extra in free payments. The is offering a competitive 3.75% AER on its One-Year Triple Access Online Saver. While there may be better rates available, the Triple Access Saver rate remains a strong contender and could help savvy households earn some additional cash.
If you were to deposit £10,000 into the account and leave it untouched, you would earn £375 at the end of the 12-month period, demonstrating that there's good money to be made. Not only existing Nationwide customers, but also those from other banks can switch and sign up.
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Under the terms of the account, savers can makeup to three withdrawals in a year without affecting the interest rate. However, making more than three withdrawals will cause the rate to drop to 1.25%, so it's worth considering this before opening the account.
This comes after finance experts warned that millions of Brits are leaving their money in low-interest accounts, where it's hardly growing at all, reports .
stated: "Online saving – limit your withdrawals, keep a better rate with our limited access savings account. Up to 3.75% AER/gross a year (variable) for 12 months.
"You can makeup to three withdrawals during the 12-month term of this account. If you make more than three, the rate drops to 1.25% AER/gross a year (variable).
"Designed for: savers who are happy to makeup to three withdrawals (during the 12-month term) without loss of interest. Savers who want to open and manage their account online using our internet bank/banking app."