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Newspage Raw

Nationwide increases savings rates after bank rate decision

ended 06. November 2026

In response to today’s Bank Rate rise, Nationwide is announcing increases of up to 0.25% across its variable rate savings accounts. The changes are effective from 1 December 2026.

Key savings changes:

On the limited access range, Nationwide’s 1 Year Triple Access Saver and 1 Year Triple Access ISA will now pay 3.55% (increased by 0.25%) for both existing and new customers.

Members saving in Reward Single Access ISA will see rates increased by 0.25% to 3.05%, while Reward Saver and Reward ISA will see rates increased by 0.25% to 3.00%.

To continue encouraging building good savings habits from a young age, Nationwide is increasing rates on its children’s accounts by 0.25%. For example, Child Trust Fund, Junior ISA and Future Saver all now pay 3.05%, while Smart Limited Access will have a rate of 2.75%.

The rates on Nationwide’s instant access accounts will rise by up to 0.25%. For example, Flex Instant Saver will rise to 2.50%.

Questions for Newspagers

  1. Are these welcome rises in savings rates from Nationwide?
  2. Should other banks follow suit?
  3. What is your advice to savers?

3 responses from the Newspage community

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Pro
Riz MalikVerified
Independent Financial Adviser at R3 Wealth
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Factoring in inflation these returns are better but nothing to write home about especially factoring in tax as well. If you have cash over and above your emergency and immediate needs look at your wider options if you want the chance of real returns.
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Pro
Tony RedondoVerified
Founder at Cosmos Currency Exchange
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The banks are quick to pass on rate rises to borrowers and painfully slow to do the same for savers, so Nationwide’s response to this afternoon’s BoE decision is welcome. Passing the full 0.25% rise across its savings range, children’s accounts and ISAs included, is fair play. The 1-Year Triple Access Saver moves to 3.55%, though returns stay modest after inflation and tax, and 2.50% on instant access still leaves room for improvement. Other lenders should follow, now. Nationwide’s lead puts pressure on rivals not to shortchange customers. Until they act, savers shouldn’t reward loyalty. Compare rates regularly, shelter excess cash in Cash ISAs, balance instant and fixed accounts, and use boosted children’s rates to build tax-free compound growth early.
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Harvey DhillonVerified
Founder & CEO at Zmartly
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These rises are welcome, but savers have to wait for them. The new rates don't start until 1 December, and not every account gets the full quarter-point: Flex Instant Saver rises 0.20 percentage points. Other banks should follow, and in full. My advice starts with children's accounts. A Junior ISA or Child Trust Fund is tax-free, but an ordinary children's savings account may not be. If money a parent gave earns more than £100 of interest in a tax year, all that interest counts as the parent's, and is taxed once it takes them over their own savings allowance. At 3.05 per cent, about £3,300 from one parent would pass £100 in a full year, though money from grandparents doesn't count. For adults, tax on savings interest is already due by law to rise two percentage points in April 2027, and the Budget plans would make it four. If your own interest is over your savings allowance, use this tax year's ISA allowance before it runs out on 5 April.