Nationwide has launched a raft of new fixed Isas in time for the end of the tax year – and two of them are best buys.
Its rates put it among the most lucrative buys for cash Isas, and its three and five-year Isas offer the best interest rates on the market.
You have until the end of the day on 5 April to use the £20,000 annual tax-free savings allowance, which is then renewed for the new tax year.
The 2026-27 tax year is the last in which savers will be able to put the full £20,000 in cash – unless they are over the age of 65.
After that, new rules announced by Rachel Reeves will mean a maximum of £12,000 can be put in a cash Isa, with the remaining £8,000 only available to use within a stocks and shares Isa from April 2027.
This week is known as the ‘golden window’ for Isas, when banks compete for your new and old Isa money by offering the best rates.
For example, savings app Plum made a key change to its cash Isa today, making it what is known as a flexible Isa. This means savers can remove money and re-deposit it later, without it counting towards their Isa allowance.
Nationwide is offering 4.35% on its 1 year fixed rate Isas, putting it at the joint sixth best rate available – with just a £1 minimum investment
What are Nationwide’s rates?
At 4.5 per cent, the three and five-year fixed Isa rates are currently best buys on This is Money’s independent savings rate tables – though things are moving fast as banks compete for customers in the run-up to the tax deadline.
Nationwide beats out Close Brothers, which is offering 4.4 per cent on a three year Isa and Furness BS offering 4.48 per cent on a five year deal.
As with all fixed-term Isas, you should only put money into a fixed Isa if you are willing not to touch it for the term you set.
It can be expensive, and sometimes impossible, to withdraw your money out before the fixed term ends.
For example, if you pull your money out early on a five year fixed cash Isa at Nationwide you will have to pay an early access charge equivalent to 300 days’ interest.
On its two-year fixed Isa, Nationwide offers 4.4 per cent. That puts it fourth among the most competitive for two-year Isas.
Crucially, though, Nationwide’s accounts require just a £1 minimum investment, where many of its high yield competitors which demand at least £1,000.
The building society is offering 4.35 per cent on its 1 year fixed rate Isa, making it the joint-sixth best rate today.
For the same interest rate, you would need to deposit a minimum of £500 at Saffron BS and to get 4.36 per cent at Close Brothers you would have to deposit at least £10,000.
Savings expert Andrew Hagger told This is Money: ‘The Isa price war is heating up as we approach the end of this tax year and the start of the new one.
‘This is a “golden window” where providers hope to woo savers who haven’t used this year’s Isa allowance and those who will be quick off the mark next week when the new tax year begins.’
He explained that rates are always competitive this time of year but that the war in the Middle East has increased the chance that interest rates will go up, which often drives savings rates up with it as banks are keen to bolster their cash deposits.
‘Isa rates have picked up considerably in the last few weeks – hence the move from Nationwide with a competitively priced Isa,’ Hagger added.
Will I qualify for the Fairer Share payment?
Last year Nationwide customers with £100 in their cash Isa, who also had a Nationwide current account, were eligible for a £100 payout through its Fairer Share Payment scheme.
The building society is yet to release details of whether there will be a similar scheme in 2026, which would mark the fourth year in a row a payment has been made.
If there is a payment, it’s likely the eligibility criteria would be similar to the last three years, when it was based on customers’ activity in March.
To qualify, members typically need a qualifying active Nationwide current account, plus either a qualifying Nationwide savings account, or cash Isa – or a Nationwide mortgage.
In the last three years, customers needed to have had at least £100 in a Nationwide savings account or a cash Isa, or £100 left on a Nationwide mortgage at the end of any day in March.
So unless customers manage to open the Isa account today, it’s unlikely it would help them qualify for the 2026 payout, based on previous years.