Three building societies have launched a new savings account aimed at giving savers more flexibility. Cheshire, Derbyshire and Dunfermline Building Societies have all launched a new Monthly Saver account, giving customers the choice of how much to save each month with generous interest rates .
The Nationwide owned building societies are offering an interest rate of 3.50 per cent above the Bank of England base rate until 31st October 2010 for savers depositing at least £100 per month into their account over the twelve month period. Furthermore, customers can make one withdrawal in that period and miss one monthly deposit and still qualify for the conditional rate.
Savers exceeding those limits will see their interest rate reduced to the start rate, which stands at 1.50 per cent above the Bank of England base rate . The conditional bonus rate expires at the start of November 2010, from which point savers will earn interest at 1.50 per cent above the Bank of England base rate, though there will be no restrictions on deposits or withdrawals. The interest rate after 1st November 2011 will be variable and isn't guaranteed.
Building Societies Rival Bank Savings Offers
Financial Services > e-banking > Banking news
Building Societies Rival Bank Savings Offers
Wed, 21 Oct 2009
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