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Nationwide offers competitive 5.50% interest on regular savings account plus £250 prize | Personal Finance | Finance

Nationwide Building Society customers can benefit from a 5.50 percent interest rate on the Start to Save Issue 2 as well as a chance to win £250.
This regular saving account is designed to get Britons into saving.
Individuals can put away money regularly and Nationwide will enter them into a £250 prize draw.
Savers can increase their balance by at least £25 (but by no more than £50) in each of the six months leading up to a prize draw to be in with a chance of winning.
Withdrawals are permitted but this might affect one’s entry into the prize draw.
Each person can get an interest rate of 5.50 percent AER/gross a year (variable) for 24 months
If someone deposited £600 during the 24-month term, based on an interest rate of 5.50 percent AER/gross a year (variable), the estimated balance would be £634.87.
To open an account, savers need to be 16 or over and be a resident in the United Kingdom.
The account can be opened on nationwide.co.uk or on the Internet Bank or Banking app (if they’re registered).
The account can be increased by £50 each Calendar Month.
There is one further prize draw set to take place.
Prize draws will take place on August 22, 2023, and February 20, 2024.
To be entered into a prize draw, savers will need to increase their account balance by at least £25 (but by no more than £50) in each of the six calendar months leading up to the month of the prize draw.
For example, to have qualified for the prize draw on August 22, 2023, the total balance in saver’s accounts needed to have increased by at least £25 in February, March, April, May, June and July.
If they increase their balance by more than £50 in a month running up to a prize draw, they will not be entered for that prize draw.
Winners will be selected at random from all accounts that qualify for the prize draw. Each winner will receive £250.
Business
Three Questions Bill Gates May Face From US Congress Panel


A congressional committee is scheduled to interview Bill Gates, the co-founder of Microsoft and one of the most well-known philanthropists in the world, on Wednesday regarding his previous relationship with the late convicted sex offender Jeffrey Epstein.
Gates is willingly travelling to Washington, saying he is excited about the chance to address the House Oversight Committee over his connection to the disgraced financier, as reported by the BBC.
While awaiting trial in 2019, Epstein committed suicide in a prison cell. Ghislaine Maxwell, his longtime companion and associate, is incarcerated for 20 years for her involvement in his crimes.
After the US Department of Justice (DOJ) recently released over three million pages of papers related to Epstein’s criminal investigation, Gates’s relationship with Epstein became more widely known. There were thousands of instances of Gates’s name.
He has consistently denied any misconduct and disputed the notion that he was aware of Epstein’s illicit activities. However, he did admit that he made a bad decision when he met Epstein in a TV appearance earlier this year.
Spending time with him was a mistake. “Many people regret ever knowing him, including me,” he remarked.
Three main questions that the congressional committee might pose to Epstein:
Why did Gates meet a man who had already been found guilty of sexual offences?
His public remarks don’t make it apparent what exactly united the two.
The main justification offered by Gates for his relationship with Epstein is that it was transactional and focused on talks about philanthropy and possible financing for his foundation that never materialised.
Gates claims that their affiliation started in 2011, three years after Epstein was found guilty in Florida of two counts of soliciting prostitution, one of which included a minor.
Why didn’t Gates express more interest in understanding Epstein’s background?
In February, Gates admitted to his foundation staff that he was aware of an “18-month thing” that had restricted Epstein’s travel, but he failed to thoroughly investigate his past.
During a time when the two men seemed to spend a lot of time together, lawmakers are expected to investigate how likely it is that Gates, one of the titans of the information industry, would have remained largely uninterested in the specifics of Epstein’s background, including facts that were already in the public domain.
Was Epstein trying to sway Gates or was it the other way around?
In its letter inviting Gates to sit for an interview, the committee said it believed he would have useful information concerning the “ways in which Mr Epstein and Ms Maxwell sought to curry favour and exercise influence to protect their illegal activities”.
At the very least, this is a plausible explanation for Epstein’s desire to get to know someone like Gates, a worldwide person with substantial networks and power despite not being a politician.
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He has consistently denied any misconduct and disputed the notion that he was aware of Epstein’s illicit activities. However, he did admit that he made a bad decision when he met Epstein in a TV appearance earlier this year.
Spending time with him was a mistake. “Many people regret ever knowing him, including me,” he remarked.
A photo that seems to show Gates close to an aeroplane with Epstein’s pilot present was one of the documents made public by the DOJ. Gates claims to have flown on a private aircraft with Epstein; this is one of the details that has plagued many people who have been damaged by Epstein.
Gates is seen posing with his arm around Epstein and many other women in other photos.
Draft emails ascribed to Epstein are also included in the documents, and they contain several controversial and unsubstantiated statements regarding Gates’s private life. These include claims that Epstein helped Gates have “illicit trysts” with “married women,” that the Microsoft co-founder had a sexually transmitted infection (STI) from “Russian girls,” and that Epstein had “helped Bill get drugs” to treat it.
ALSO READ: US Inflation Soars To Three-Year High As Iran War Pushes Up Energy Prices
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India ‘Closely Monitoring’ Incident Involving Vessel Off Oman Coast


The Indian Embassy in Muscat on Wednesday said it has learnt of an incident involving a vessel off the coast of Oman and is “closely monitoring” the situation, amid reports of an attack on a tanker near the entrance to the Strait of Hormuz.
In a post on X, the Indian mission also said that it is in close touch with the local authorities on the issue, without disclosing any details.
“We have learnt of an incident involving a vessel off the coast of Oman. We are closely monitoring the situation and in close touch with the local authorities. We shall update soon,” it said.
Meanwhile, the UK Maritime Trade Operations (UKMTO) said it has received a report of an incident 20 nautical miles northeast of Sohar in Oman, which lies near the entrance to the Strait of Hormuz.
“Local authorities have reported a tanker has experienced a fire in their engine room and are on the scene assisting with the evacuation of the crew,” it said.
The vessel reported one casualty while two crew members are missing, it said, adding that no environmental impact was reported.
The development comes a day after the Indian Coast Guard (ICG) said that 24 Indian crew members of a Palau-flagged merchant tanker were rescued in coordination with Omani authorities, following a “missile attack” on the vessel off the coast of Oman.
Tensions have heightened in the Gulf region, with the US launching airstrikes against Iran, which retaliated by firing missiles at Gulf countries.
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Honda Recalls More Than 8,80,000 Cars Due To Problem With Rear Suspension Components In US


Honda is recalling more than 8,00,000 vehicles in the US because rear suspension components may fail and cause drivers to lose control, increasing the chances of a crash or injury.
American Honda Motor Co said the recall covers certain 2016-2022 Honda Pilot, 2017-2023 Ridgeline, 2019-2023 Passport and 2014-2020 Acura MDX vehicles. The recall includes 880,514 vehicles that were sold in Connecticut, Delaware, District of Columbia, Illinois, Indiana, Iowa, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia, West Virginia, or Wisconsin.
The problem centres around the rear subframe, which can corrode at suspension mounting points and cause the rear suspension to fail. Honda estimates that just 1 per cent of the vehicles listed have the defect.
Honda has had no warranty claims and no reports of an injury or death related to the problem.
As a remedy, Honda and Acura dealers will inspect the rear subframe and install a reinforcement kit if necessary, or repair or replace the rear subframe components at no cost to vehicle owners.
Owner notification letters are expected to be mailed July 7.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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