Derbyshire increases rate on Netsaver account

Derbyshire Building Society, part of the Nationwide Group, has increased the bonus rate on its Derbyshire NetSaver - Issue 1 account by 0.07% to 2.18% gross p.a., bringing the overall rate paid to a market leading 3.18% gross p.a./AER (variable).

Existing Derbyshire NetSaver - Issue 1 customers will benefit from the increased rate from today, while it will also apply to new accounts opened from 12 September onwards.

Available online via the Derbyshire Building Society website, interest on the Derbyshire NetSaver - Issue 1 is paid annually on 30 November, commencing 2011 and is credited to the account.  The minimum opening and operating balance for Derbyshire NetSaver - Issue 1 is £1, and the maximum balance is £1 million.

Matthew Wyles, Nationwide's Group Distribution Director, said:  "Our NetSaver account is perfect for savers who like to manage their savings online and enjoy the convenience of being able to dip in and out of their funds as and when they need to.  It's certainly proved popular with savers with over 9,000 accounts opened since we launched it back in July 2011.  With a market leading rate on offer, the NetSaver gives those savers the chance of a decent return on their investment while providing a solution for those that have used their full ISA allowance but have more money to save."