New 75 Day Notice account from the Nationwide Group

The Cheshire, Derbyshire and Dunfermline Building Societies, all part of the Nationwide Group, have launched 75 Day Notice - Issue 2.

The new issues of the branch-based 75 day notice account will pay a variable rate of 2.50% gross p.a./AER for balances of £1,000 and above. This rate includes an introductory bonus of 1.50% that is fixed until 31 August 2013.

Customers can have access to their funds without loss of interest provided 75 days advance notice is given of the amount to be withdrawn. For immediate access, 75 days loss of interest on the amount to be withdrawn will be applied.

Interest is paid annually on 31 December each year, and can either be credited to the account, paid to a current account or transferred to another Derbyshire/Cheshire/Dunfermline account.

For any day that the balance goes below £1,000, the rate will drop to a fixed rate of 0.10% gross p.a./AER and no bonus will be applied.

Cheshire, Derbyshire and Dunfermline Building Societies will write to customers to remind them when their fixed bonus is due to end.

75 Day Notice - Issue 2

Availability in branch

Withdrawals:
Access is available without loss of interest provided 75 days advance notice is given.  For immediate access, 75 days loss of interest on the amount to be withdrawn will be applied
 
Deposits:
Unlimited, up to £5 million maximum investment
 
Min. opening balance:
£1,000
 
Min. operating balance:
£1
 
Max. Balance:
£5 million

The Cheshire, Dunfermline and Derbyshire 75 Day Notice - Issue 1 will be withdrawn from sale at close of business Tuesday 1 May.

Matthew Wyles, Nationwide's group distribution director, said: "The new issue of the 75 Day notice account pays an increased rate of 2.50% gross p.a/AER.  This is tremendous news for our branch based customers."