Nationwide Building Society
History
The history of Nationwide Building Society began with the establishment of three key institutions: Provident Union Building Society in 1846, Northampton Town & Country Freehold Land Society in 1848 and the Southern Cooperative Permanent Building Society in 1884. Through a long and complex process of mergers and acquisitions that lasted more than a century, Nationwide Building Society was born.
Current Information
Nationwide Building Society is the largest building society in the world today, with more than 750 branches and 200 agencies throughout the UK. This company is headquartered in Swindon, England, and it also boasts a large administrative center in Northampton. Nationwide currently offers a wide range of banking services to its customers, including deposit accounts, investments, loans, mortgages and credit cards.
Cash ISAs Available
Customers would be hard-pressed to find a bank or building society that offers a greater variety of cash ISAs than Nationwide. This company provides no less than 20 ISA products at this time, ensuring that every Nationwide customer will find an account tailored precisely to his financial needs and goals. Some of the basic categories of cash ISAs include:
- E-ISA – This account is available to customers who like to do their banking business from the comfort of home. It requires just £1 to open and allows withdrawals at any time without penalty.
- Other ISAs – The Champion ISA and Instant Access ISA both fall into this category, with the instant access account offering more withdrawal options than the former. However, the Champion ISA has a very competitive rate of interest, making it a good choice for those who do not need easy access to their funds.
- ISAs for Members Only – Nationwide currently offers the Members’ ISA Bond, which provides a much higher rate of return for customers who have been with Nationwide at least three years. The account also allows for three penalty-free withdrawals each year.
- Term ISAs – Nationwide offers terms on ISAs that range from six months to five years. All include a fixed interest rate, which goes up the longer you agree to leave your money on deposit. Annual interest payments also earn more than monthly payments. Withdrawals made during the term are subject to an interest penalty.
- Tracker ISAs – Nationwide also offers two-year tracker ISAs, which have interest rates that fluctuate in accordance with market conditions. Tracker rates are tied to the Bank of England base rate and interest payments can be made monthly or annually on these accounts. Tracker accounts require a minimum initial deposit of £100.
Stocks and Shares ISAs to Choose From
Nationwide also provides a wide range of stocks and shares ISAs, so you can choose the fund that you like best in terms of risk and potential return. Investment options range from minimal risk to high risk products. The building society does not specify minimum investment requirements on their website, and customers must speak with Legal & General to get specific information about the funds available.
Because Nationwide is one of the largest building societies in England, customers benefit with one of the largest selections of accounts for their ISA funds. No matter what type of ISA you are looking for, you can find the right product for you at Nationwide.