Nationwide confirms final date ahead of savings account change | Personal Finance | Finance
Nationwide Building Society has issued an update about a looming final deadline for savers. The statement comes after a customer asked a question over social media.
The member asked the savings giant an important question regarding ISAs. They queried: “What’s your deadline for the end of the tax year?”
You can pay up to £20,000 each tax year into tax-free ISAs, and the allowance can currently be split between cash ISAs or stocks and shares ISAs, as you decide. In response to the question, Nationwide directed the customer to a page on the group’s website with more information about the ISAs that they offer.
Nationwide was asked to clarify what the cut-off point is for customers to make deposits into their accounts using this year’s ISA allowance. The group said: “For Nationwide (and all ISA providers), ISA contributions must be made by 5 April (by 11.59pm on 5 April), the final day of the tax year, for them to count toward that year’s allowance.
“This aligns with the HMRC ISA rules, which Nationwide follows. All ISAs and rates are available in branch by phone or online, as we know customers value choice in how they bank, which is why we’ve extended our Branch Promise.”
The branch promise is Nationwide’s commitment to keep open all its 605 high street branches until at least 2030. The group shared some more guidance about how to check your savings.
You can check online
Nationwide said: “Customers can also check any online ISA or savings accounts on the app with rate and maturity dates all detailed there. Customers can also make use of our in‑app budgeting tool to help them manage their money.”
At the time of writing, the group offers rates up to 4.5 percent with its ISA products, including a five-year fix and a three-year fix both paying 4.5 percent. Some key changes to ISAs are coming in soon.
From the April 2027 tax year, the current £20,000 allowance will effectively be reduced, so that only £12,000 will be available for deposits into any type of ISA. The remaining £8,000 will have to be used for investment-based ISAs.
