Insurance

Loans and Financing

Financial Services

Date issued: 18 Jun 2010

Nationwide Building Society: www.Nationwide.co.uk

Nationwide Building Society today announces changes to the bonus paid on its Champion Saver account.

Customers who apply for the Champion Saver on or after 17 June 2010 will receive a fixed bonus rate of 0.80% gross p.a. until 31 August 2011. The way the core rate is calculated remains unchanged and, along with the bonus, continues to be applied as normal for balances over £1,000.

The key feature of Champion Saver is that it tracks the average rate offered by the top five paying branch-based instant access, limited access and notice accounts (including their bonuses) from a basket of eight key High Street competitors¹, plus a fixed bonus. If the rates from the top five competitors change, the Champion Saver core rate changes accordingly. This means Nationwide savers can be sure they will always receive a competitive rate for their savings in the current low interest rate environment.

Nationwide is committed to writing to customers to remind them when their fixed bonus is due to end.

Notes to editors

¹ Champion Saver

Champion Saver's core rate is based on an average of the top five paying branch based instant access, limited access and notice accounts (including any bonuses) published on www.moneyfacts.co.uk, available from Santander, Barclays, Halifax, HSBC, Lloyds TSB, Northern Rock, NatWest and Royal Bank of Scotland. ISAs, Fixed Rates, Regular Savings and Age-Specific Accounts have been excluded.

Rates are calculated on the second Monday of each month and come into effect from the 1^st of the following month.

Availability: in branch.
Withdrawals: 60 day notice account / 60 days' loss of interest.
Deposits: unlimited.
Min. opening balance: £1,000.
Min. operating balance: £1.
Max. operating balance: £2,000,000.

Customers who opened Champion Saver before 17 June 2010 will continue with their fixed bonus of 1.10% gross p.a. until it expires on 31 January 2011. The underlying core rate remains unchanged and is calculated and applied as normal for all Champion Saver accounts with balances over £1,000, regardless of the fixed bonus paid on top.

Applications are required for all products. Terms and conditions are available on request.

RATES FOR CHAMPION SAVER, EFFECTIVE FROM 17 JUNE 2010

The minimum opening balance of the Champion Saver is £1,000. The operating balance must be £1,000 or more to achieve the core rate and bonus.

Champion Saver (bonus expiry date 31 August 2011) - a/cs opened from 17/6/10

Account	Net	Gross p.a.	AER
£1,000+*	2.01%	2.51%	2.51%

*Including fixed bonus of 0.80% gross p.a. until 31 August 2011.

Champion Saver (bonus expiry date 31 January 2011) - a/cs opened from 3/8/09 to 16/6/10

Account	Net	Gross p.a.	AER
£1,000+*	2.25%	2.81%	2.46%

*Including fixed bonus of 1.10% gross p.a. until 31 January 2011.

Please note the rates for Champion Saver accounts with a bonus expiry date of 31 January 2011 are effective from 1 June 2010.

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest were paid and compounded once each year. The gross rate of interest is the interest rate payable before any income tax is deducted (if customers do pay tax).