Guys,

I'm thinking of placing my cash isas into a 1 year fixed rate cash isa bond with the nationwide (6.15 %).


The money is covered by the 35 K guarentee but do ya think the nationwide is a safe bank ?

Thanks

NW is probably one of the safer commercial banks (/BS) out there, I'm with them (e-savings) and put my ISA in NSANDI. I don't think NW use hardly any external funding from money markets (no rights issue ******** for them!), so when their loan book goes bad is when you need to get worried.

£35k is not safe (unless the scheme never has to pay out)

See threads here

http://www.housepricecrash.co.uk/forum/ind...st&p=770908

http://www.housepricecrash.co.uk/forum/ind...t&p=1062403

Optobear

The Nationwide is a Building Society and not a bank. This directly relates to your question as it's required to hold a significantly higher proportion of its assets in the form of cash deposits from society members than a bank - as such it's much less likely (by several degress of magnitude) to go bankrupt than a bank is.