Nationwide offering 5% interest on current account as competition heats up

PA Wire

A major current account provider is offering 5% interest on balances up to £1,500 for the first 12 months as the battle to attract customers heats up.

Nationwide Building Society previously offered 2% fixed for 12 months on balances up to £1,500 on its FlexDirect account, but it is more than doubling the rate on offer to 5% AER (annual equivalent rate).