Wednesday, 15 Apr 2009 10:52

Nationwide International, the offshore subsidiary of Nationwide Building Society, has announced details of its lifetime guarantee account, which will pay up to 3.05 per cent.

A minimum deposit of £5,000 is required. Balances under £50,000 will earn 2.55 per cent AER.

After 12 months, accounts with annual or deferred interest are guaranteed to pay 0.3 per cent below the Bank of England Base Rate until March 31st 2011, and be no less than one per cent below base rate thereafter.

For monthly interest, accounts are guaranteed to pay 0.65 per cent below the base rate until March 31st 2011, and be no less than 1.35 per cent below base rate thereafter.

While the rate is this low, a flat rate of 0.1 per cent will be paid on the account.