Nationwide Building Society today announces new product details of its Stepped Rate e-Bond.

With effect from Friday 25 June 2010, the step dates on the four-year Stepped Rate e-Bond change as below:

The current four-year Football Bond will be withdrawn from sale at the close of business on Thursday 24 June 2010.

All other Bonds and e-Bonds remain unchanged.

* AER stands for the Annual Equivalent Rate and illustrates what the interest would be if interest was 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).

The net rate of interest is the interest rate payable after any income tax is deducted (if customers do pay tax).

Tax treatment is dependent on individual circumstances. The tax information provided is based on Nationwide's understanding of current law and HM Revenue & Customs practice, which can change.

- Applicable for the opening of new Stepped Rate e-Bonds
All bonds may be withdrawn without notice.
Minimum investments
The four-year Stepped Rate e-Bond can be opened with a minimum investment of £5,000.
Early closure
The four-year Stepped Rate e-Bond can be closed subject to the loss of 320 days' interest.
Part withdrawals are not allowed.
Members who want a monthly income from their savings can take advantage of the monthly interest option.

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