As the base rate falls, some savings providers, including Nationwide, have chosen to lower the interest rates on some savings accounts.
When the rate changes were announced, Tom Riley, Nationwide’s director of retail products, said: “We have worked hard to limit the impact of the recent rate cuts on our savers and have taken the decision to hold rates on some of our most popular accounts, such as our leading Flex Regular Saver.”.
Nationwide makes big change to millions of bank accounts from TODAY NATIONWIDE is making massive changes to millions of accounts today which will leave savers worse off.
The base rate influences the interest rates banks can offer to customers on financial products such as credit cards, savings and mortgages.
As such, from today Nationwide is lowering the interest rates on 89 variable-rate easy and instant access savings and cash Isas by between 0.1% and 0.26%.
