The group recently made an announcement about all its high street branches
Nationwide Building Society has released an update regarding an impending final deadline for savers. The fresh statement comes after a query from a customer on social media.
The customer posed a crucial question to the group about ISAs. They wanted to know: “What’s your deadline for the end of the tax year?” Each tax year, you can deposit up to £20,000 into tax-free ISAs, with the current allowance able to be divided between cash ISAs or stocks and shares ISAs, as per your preference.
In response to the query, Nationwide directed the customer to a page on their website providing further details about the ISAs they offer.
Nationwide was asked to specify the cut-off date 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 adheres to. All ISAs and rates are accessible in branch, by phone or online, as we understand customers appreciate having options in how they bank, which is why we’ve extended our Branch Promise.”
The Branch Promise is Nationwide’s pledge to keep all its 605 high street branches open until at least 2030. The group also offered some further advice about how to manage your savings.
Managing your money
Nationwide told the customer: “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.”
Currently, the building society provides rates of up to 4.5 per cent on its ISA products, including both a five-year fixed term and a three-year fixed term, each offering 4.5 per cent. A significant change to ISAs is approaching.
From April 2027, the existing £20,000 annual allowance will effectively be reduced, meaning only £12,000 will be permitted for deposits into any form of ISA. The remaining £8,000 must be allocated to investment-based ISAs.
