Nationwide announced adjustments to savings rates in response to the Bank of England Bank Rate decrease of 0.25% on Thursday 7 August.

From 1 October, rates will be lowered by between 0.20%-0.25% on specific savings products. One of the best ways to kickstart a savings habit is to start young, which is why there are no changes to the rate on FlexOne Saver and FlexOne Regular Saver.

To encourage current account customers to save regularly, the bank pledged there would also be no changes to the headline rate on Flex Regular Saver, which will remain at 6.50%.

Nationwide remains committed to offering a competitive alternative to the high street banks that appeals to all types of savers.

Tom Riley, Nationwide’s Director of Group Retail Products, said: “We always work hard to try to limit

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