Portfolio investor account is different kind of account, meant for pension fund managers which are termed as Nationwide Portfolio Investor. A pensioner can open this account and the bank will take care of the rest. Since they are not any business man or service holder so for them the bank has kept a minimum balance maintenance which could be as low as £1 and maximum balance could be as high as £5,000,000.
We all know that pensioners, when in need of money have to go to the bank to withdraw from their pension and savings so the bank has given the feasibility of withdrawing unlimited number of withdrawals from these accounts each year. No notice is required neither will they be levied with any penalty for additional number of withdrawals from their bank. These pensioners savings as much they manage will enable them to earn up to 0.01% gross p.a./AER. This gross percentage is actually interest including the tax levied on it if you are applicable to pay tax. The net percentage also comes to 0.01% p.a. hence no deduction of tax from net interest earned.
The nationwide bank is also providing easy accessibility to these accounts. They provide instant access to these accounts. This way any pensioners in that matter will have a direct and instant access to their account which will help them to know the current status of their account and their financial position. Looking on these data these pensioners could very well plan their further proceedings and could be prepared for the future actions. Hence, we see that this Nationwide Portfolio Investor is doing a pretty good job in helping these pensioners to maintain the balance in their life. These additional income at this stage of life is a refreshing flow of air making everything sweet and fresh.
These are actually pension fund managers account where the minimum balance could be £1 and maximum balance could reach to a maximum of £5,000,000 with no penalty for withdrawal.
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