Hang on for the best Isa deals
Nationwide has launched a new cash individual savings account (Isa) that aims consistently to beat the rates offered by its competitors. But better deals could still emerge before Isa deadline day, so hang on for now.
Nationwide has launched a new cash individual savings account (Isa) that aims consistently to beat the rates offered by its competitors. Every month the Champion Isa's rate will be recalculated on the basis of the average of the five highest branch-based cash Isa rates on offer from eight other high-street banks.
The rate also includes a 1.35% bonus for the first year, so it should beat all the other rates for at least the first 12 months. To get that rate currently 2.5%, which shows how poor rates are generally you need to keep at least £1,000 in the account. You can only make one penalty-free withdrawal each tax year further withdrawals will be subject to 60 days' notice or loss of interest. The account accepts Isa transfers.
This isn't a bad Isa option, as it offers peace of mind that you'll get a reasonable Isa rate for at least the next 12 months. But it won't necessarily be a market-beating rate, as the rate excludes web-only accounts and smaller providers. In all, it's one to consider, but better deals could still emerge before Isa deadline day, so hang on for now.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
UK-US trade deal announced: US cuts tariffs on UK car imports to 10%
Keir Starmer and Donald Trump have announced a UK-US trade deal, but the US president has refused to lift baseline tariffs on most UK goods. What does it mean for the UK?
-
How to use mid-caps to diversify from the US
Medium sized companies are overlooked by investors but could offer an attractive ‘sweet spot’. We consider the case for mid-caps amid market volatility.