On your side? Nationwide hacks 0.5% off savings rate for children

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On your side? Nationwide hacks 0.5% off savings rate for children. thisismoney.co.uk – Simon Lambert for Thisismoney.co.uk. Nationwide is ‘on your side’, or so it likes to tell us. Despite that slogan, it doesn’t appear to be on the side of my six-year-old daughter, as the.

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The Bank of England on Thursday raised the base rate from 0.25% to 0.5% – the first. On savings, he said: "Low interest rates have been a plague for many with savings, especially those who’ve.

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She’s a fee-only planner who charges between 0.5% and. build up savings if you’re being dragged down by high-interest-rate debt, such as credit cards at 18% annual interest. In fact, paying off.

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What you may think is missing in this letter is a proper explanation as to why Nationwide has taken a whole 0.5 per cent off the rate of a savings account for children.

Both accounts work the same way in practice, paying the interest on balances of £1 or more and allowing one withdrawal a year before a rate drop. The interest rate would fall to 0.5 per cent.