RSS Feed

Related Articles

Related Categories

The Cheshire Platinum Monthly Saver

9th November 2012 Print

The Cheshire and Derbyshire Building Societies are launching new issues of the Platinum Monthly Saver, a competitive account aimed at savers looking to build up a nest egg by putting money aside on a regular basis.

Platinum Monthly Saver is a branch-based account with a fixed term until 31 January 2014. Customers can pay in between £100 and £500 a month over the term of the account either by cash, cheque or standing order. Provided the saver makes no more than one withdrawal and misses no more than one monthly deposit between opening the account and the end of the fixed term, they will earn 5.00% gross p.a./AER (variable) until 31 January 2014.

However, if more than one withdrawal is made, more than one monthly deposit is missed or the account is closed during the term, a lower rate of 1.00% gross p.a./AER (variable) will be paid.

At the end of the fixed term, the account will automatically revert to an instant access account paying a variable rate of 1.00% gross p.a./AER (variable) with no restrictions on deposits or withdrawals. Each Society will write to customers in advance to notify them that their fixed term is coming to an end.