Nationwide Building Society announces details of a new four-year Fixed Rate Bond.

With effect from 30 June 2010, the four-year Fixed Rate Bond offers 4.15% gross p.a./AER* for balances of £1 or more for annual interest options.

Robin Bailey, director of savings and investments at Nationwide, said: "We are pleased to announce the launch of our competitive four-year Fixed Rate Bond. It compliments our existing range of Fixed Rate Bonds all offering a guaranteed rate of interest in this continued low interest rate environment."

The current six-month Fixed Rate Bond will be withdrawn at the close of business on Tuesday 29 June 2010.

All other Bonds and e-Bonds remain unchanged.

Notes to editors

*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.

Nationwide e-Bonds are only available online through a FlexAccount and are operated through Nationwide's Internet Bank.

Early closure
The four-year Fixed Rate Bond can be closed subject to the loss of 320 days' interest.

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

Interest rate for the four-year Fixed Rate Bond with effect from 30 June 2010