Nationwide is making a new offer for customers selecting one of its savings offerings.

The building society with a Swindon headquarters has a one-year Fixed Rate Cash ISA that allows customers to put away a fixed sum and watch the interest grow over 12 months.

Savers who invest £10,000 into this account receive a 4.5 per cent interest rate are told to expect a return of £450 by the end of the year.

Those who can afford to lock in the maximum £20,000 could welcome an interest windfall of £900.

A Nationwide spokesperson said: "Our Fixed Rate Cash ISA is designed for savers looking to lock their money away for a fixed term. Your interest rate won't change during your fixed term.

"Withdrawing money before your term ends closes the account and an early access charge will apply. Certain savings accounts suit certain types of savers. Find out more about who we designed this account for.

"Designed for savers willing to lock away their money for a fixed term; savers with a lump sum to deposit; savers looking for an interest rate that won't change.

“A cash ISA generally allows UK residents aged 18 or over to save up to their annual ISA allowance tax-free each tax year.

"The allowance is £20,000 for 2024/25."