Champion ISA

As a result of interest rate movement on some competitors’ cash ISAs, the interest rate of Champion ISA is now 2.57% gross p.a./AER* variable for balances over £1,000. Interest is paid annually.

Champion ISA tracks the average rate offered by the top five branch-based cash ISAs from a basket of eight competitors¹. Until 30 June 2011, a fixed introductory bonus of 1.35% gross p.a. for balances of £1,000 or more is then added on top of the core rate. So when there is movement in the interest rates of the basket of eight competitors’ branch-based cash ISAs, Champion ISA’s interest rate will change accordingly.

Long term good value

Even without the respective fixed bonus, the Nationwide ISA is competitive because other providers’ introductory bonuses are included when calculating Champion ISA’s core interest rates. A fixed bonus is then added on top to help savers in the current low interest rate environment.

Nationwide is committed to writing to customers to remind them when their fixed bonus is due to end.

¹Champion ISA
Champion ISA’s core rate is based on the average of the top five paying branch-based cash ISAs (including bonuses) published on www.moneyfacts.co.uk from Barclays, Halifax, HSBC, Lloyds TSB, Northern Rock, NatWest, Royal Bank of Scotland and Santander. Rates are calculated on the second Monday of each month and come into effect from the 1st of the following month.

Excluded accounts:

• Cash ISAs that cannot be opened and/or operated through branch.


• Fixed Rate cash ISAs.


• Fixed Term cash ISAs.


• Regular Savings cash ISAs.


• Cash ISAs that do not accept transfers of existing ISA funds.


• Cash ISAs no longer available for sale.


• Cash ISAs linked to an investment product.


• Cash ISAs specifying particular age restrictions.

Included accounts:

• Instant access cash ISAs that can be opened and operated in branch.


• Limited access cash ISAs that can be opened and operated in branch.


• Notice cash ISAs that can be opened and operated in branch.


• Current account linked cash ISAs that can be opened and operated in branch.

Availability: in branch.
Withdrawals: one penalty-free withdrawal each tax year. Further withdrawals in the same tax year are subject to 60 days’ notice or loss of interest.
Deposits: unlimited, subject to annual cash ISA allowance.
Min. opening balance: £1,000.
Min. operating balance: £1.
Max. operating balance: subject to annual cash ISA allowance.

Balances below £1,000 will currently receive 0.25% gross p.a/AER*

*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest were paid and compounded once each year. The gross rate of interest is the interest rate payable before any income tax is deducted (if customers do pay tax).

Applications are required for all products. Terms and conditions are available on request.