Loyalty is rewarded at the Cheshire, Dunfermline and Derbyshire Building Societies

Competitive Fixed Rate Bond on offer to existing savers

03 January 2012

From today, Tuesday 3 January 2012, the Derbyshire, Cheshire and Dunfermline Building Societies are each separately launching a new fixed rate Loyalty Bond. Each Society will offer an account paying a competitive 3.90% gross p.a./AER* (fixed) to savers who have an existing relationship with the either the Derbyshire, Cheshire and Dunfermline.

The launch of this competitive new account reinforces one of the seven Savings Promises covering the Cheshire, Dunfermline and Derbyshire: to reward existing savers with exclusive savings products.**

Derbyshire Loyalty Bond - Issue 1

This Bond can be opened in any Derbyshire branch and is available to those savers who have held a Derbyshire savings account for at least three consecutive months prior to application. The competitive rate of 3.90% gross p.a./AER* (fixed) is paid on balances over £100 and is fixed until maturity - 31 July 2013.

The minimum opening balance is £100 with a maximum deposit of £5,000 or £10,000 if it is a joint account. Interest can be paid either annually (on 31 July 2012 and on maturity - 31 July 2013) or monthly (immediately after the 15th of every month).

Dunfermline Loyalty Bond - Issue 1

This Bond can be opened in any Dunfermline branch or by phone and is available to those savers who have held a Dunfermline savings account for at least three consecutive months prior to application. The competitive rate of 3.90% gross p.a./AER* (fixed) is paid on balances over £100 and is fixed until maturity - 31 July 2013.

The minimum opening balance is £100 with a maximum deposit of £5,000 or £10,000 if it is a joint account. Interest can be paid either annually (on 31 July 2012 and on maturity - 31 July 2013) or monthly (immediately after the 15th of every month).

Cheshire 18 month Loyalty Bond

This 18 month Bond can be opened in any Cheshire branch and is available to those savers who have held a Cheshire savings account for at least three consecutive months prior to application. The competitive rate of 3.90% (fixed) gross p.a./AER* is paid on balances over £100 and is fixed for 18 months.

The minimum opening balance is £100 with a maximum deposit of £5,000 or £10,000 if it is a joint account. Interest can be paid either annually (on the anniversary of account opening and at maturity) or monthly (on the last day of the calendar month)

Matthew Wyles, Nationwide's Group Distribution Director, said: "We are committed to providing the best deals to those people who are prepared to have a long, deep and more committed relationship with us. The launch of this new Bond, along with the Savings Promises, reinforces that message while also demonstrating our commitment to providing our Derbyshire, Cheshire and Dunfermline members with long-term good value savings accounts."

Notes to editors:

* AER stands for Annual Equivalent Rate which illustrates what the interest rate would be if interest was paid and compounded each year. The gross rate of interest is the interest rate payable before any income tax is deducted (if a customer pays tax) and the net rate of interest is the interest payable after any income tax is deducted (if a customer pays tax).

** Product eligibility criteria apply. These are our Savings Promises, which form part of your savings account terms and conditions. These Savings Promises ONLY apply to accounts opened with either the Cheshire, Dunfermline or Derbyshire Building Societies.

  • Applications are required for all products. Further details of terms and conditions available on request.
  • The products may be withdrawn without notice.
  • No withdrawals permitted during the fixed term.
  • Limited to one account per customer.

Loyalty account rates - effective 3 January 2011

Annual AER Gross p.a. Net p.a.
£100+ 3.90% 3.90% 3.12%

Loyalty account rates - effective 3 January 2011

Monthly AER Gross p.a. Net p.a.
£100+ 3.87% 3.80% 3.04%

The Cheshire Building Society, Dunfermline Building Society and Derbyshire Building Society are Trading Divisions of Nationwide Building Society.

Please note: If you are a customer looking for information on our products and services, please visit the main website.