Loyalty products

Should we reward savers with loyalty bonds OR a savers' premium bond style draw?

Nationwide rewards loyal savers through special bonds with extra interest.

Instead of this, would being entered into a savers' monthly prize draw for up to £100,000 be more attractive to you?

Share your thoughts. Please SCROLL DOWN to comment or view comments.

Agree (73)

Posted by Nationwide team

Rewards are good! said:

I agree this would be a great idea, however to ensure some return I would offer a nominal interest rate as well. Like Doc Hollywood said below, possibly a 1% interest account as well as the chance of a large reward. I think this would draw a lot of customers to Nationwide!

Agree (9)

Date posted - 18/10/2011 17:12:35

Doc Hollywood said:

I for one am not against a prize draw as I have a lot of money invested in Premium Bonds! Maybe to make people move their money from Premium Bonds, why not offer 1% interest as well as lucky winners each month, I’d certainly invest in this if you did it!

Agree (11)

Date posted - 18/10/2011 08:09:26

Maggie said:

Loyalty Bonds with a rate that reflects the length of membership and what you have held on deposit

Agree (34)

Date posted - 18/10/2011 08:08:24

Tigon said:

I am totally opposed to gambling, and would find this proposal to be a very bad idea, people should save and the rewards should be equally spread.

Agree (33)

Date posted - 17/10/2011 09:30:03

Gamblers never win said:

NO! This would be encouraging people to gamble and would stop people saving with NW. The reason I am with NW is because all members get the same interest on the savings they have. All our savings are in NW if I wished to gamble there are a lot of bingo sites I could put it in or on the lottery. If you do go that way, do you know a good building society so I can open accounts?

Agree (38)

Date posted - 13/10/2011 22:57:46

Crispy said:

I think it is better to ensure Nationwide offers the best rate possible rather than encourage the current desire to win something rather than save for it. Please continue with good interest rates and a safe haven for our savings.

Agree (64)

Date posted - 13/10/2011 09:30:06

Limee said:

A Draw rewards a random few; additional interest rewards all. A spread of reward is what a Building Society should be. No to the draw!

Agree (72)

Date posted - 13/10/2011 09:22:21

LS_Oxford said:

Great idea please do it! I have all my savings with National Savings and Investments Premium Bonds as interest rates as so measly its not even worth saving £10,000 at the moment in a high street bank. Unless you can lock your money away for 3-5 years then your lucky to get 3%. If Nationwide did this I would transfer all my savings back to you as NSANDI arent offering great returns right now due to low interest rates.

Agree (26)

Date posted - 12/10/2011 15:10:05