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New fixed rate savings bonds from the Nationwide Group

13th July 2012 Print

The Cheshire, Derbyshire and Dunfermline Building Societies, part of the Nationwide Group, have launched new fixed rate bonds aimed at rewarding loyal savers.

Cheshire Building Society - 18-Month Loyalty Bond (Issue 2)

The new account has an 18-month term and pays a rate of annual interest of 3.66% AER (3.70% gross p.a.).

Derbyshire Building Society and Dunfermline Building Society - Loyalty Bond (Issue 2)

The new account is fixed until 31 July 2014 and pays a rate of annual interest of 3.80% gross p.a./AER.

The new bonds are available to existing customers who have held a savings account, for at least three months, with the Society they open an account with. In order to give the benefits to as many existing customers as possible, the Loyalty Bonds will have a maximum balance of £5,000 for a sole account or £10,000 if it is a joint account.

Darren Bailey, Nationwide's Head of Savings Pricing, said:  "These new accounts reinforce our commitment to provide special products for our existing savers.

"In the current low interest rate environment, if savers have funds they don't need access to in the medium term, one way to achieve a better rate could be to move them into a fixed rate bond.

"These new bonds offer competitive rates and aim to reward our loyal members."