The all new Nationwide Champion ISA means that you don’t have to search the high street for a top rate tax free rate ISA. The Champion ISA from is a unique ISA that you won’t find elsewhere on the highstreet. Each month, Nationwide look at the cash ISA rate of 8 high street banks and then give you the interest rate equal to the average of the top 5 with a bonus added on. Nationwide say that you can be assured of a top rate of interest month after month.

Currently (24th Feb 2010) the Nationwide Champion ISA rate is 2.50% AER variable which is made up of a core rate of 1.15% gross AER and a 1.35% bonus which is fixed until 30th June 2011. These rates are available on balances of over £1,000 and your opening balance must be £1,000 minimum. You get one penalty free withdrawal each year, but if you need to make further withdrawals yu need to give 60 days notice, or have a loss of interest.

The rate is calculated on the 2nd Monday of the month and is variable. See for the most up to date interest rate for the Champion ISA from Nationwide.