A very special offering for Nationwide exclusive members for at least 3-years is the Nationwide Members’ ISA Bond, as it gives a higher rate of interest on the available fund in your account and that too totally tax-free. This system of ISA, as we all know, means Individual Savings Account. It is a very effective and flexible account whereby we can do incredible savings since the interest which is paid to the account holder against his or her fund is totally tax free.
So practically the account holder gets to enjoy the entire amount of interest earned by his fund. The minimum age limit to acquire this account is 16 years. The interest rates varies from 0.50% to 0.75% hence maintenance of account balance is very vital. This account, unlike other accounts is very feasible. You have the option to withdraw your fund thrice per year. Well the biggest advantage is that you can have a minimum opening balance of £100. There is a notice period of 30-days for additional number of withdrawals. Hence, the account holder can calculate his or her total withdrawal over the entire stretch of taxable year.
This accounts AER is variable. For a minimum balance £1 to maximum balance £9,999 the AER% is 0.50%, whereas for a minimum balance of £10,000 to maximum balance £24,999 the AER% is 0.6%. Again for a minimum balance of £25,000+ to an unlimited maximum balance the AER% is 0.75%. The gross percentage applicable per year is exactly the same. You can have a track of your account as the bank will send an annual statement of all the transactions done in a year. Or you can check your balance online.Now that’s what we call good profit from fund of savings account. So, the Nationwide Members’ ISA Bond is beneficial and attractive for earning money smartly. For the ones holding a nationwide account for more than 3 years, Member’s ISA Bond is the perfect choice.
This members isa bond enables the beholder to make several deposits and can even withdraw from his account 3-times without any penalty in a single tax year.
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