Product Update - 90 Day Saver

14 December 2012

From Friday 14 December 2012, Cheshire, Derbyshire and Dunfermline Building Societies, all part of the Nationwide Group, are launching a new issue of 90 Day Saver. The branch-based account pays a variable rate of 1.75% gross p.a./AER* for balances of £1,000 and above. This rate includes an introductory bonus of 1.25% that is fixed until 28 February 2014.

Customers can have unlimited withdrawals subject to 90 days' notice or 90 days' loss of interest on the amount withdrawn.

90 Day Saver – Issue 3
Availability In branch
Withdrawals Access is available without loss of interest provided 90 days’ advance notice is given. For immediate access, 90 days’ loss of interest on the amount to be withdrawn will be applied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

90 Day Notice – Issue 2 was withdrawn from the close of business on Thursday 13 December.

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).

Interest rates – applicable from 14 December 2012

Annual interest AER Gross p.a. Net p.a.
£1,000 - £5 million 1.75%** 1.75%** 1.40%
£1 - £999.99 0.10% 0.10% 0.08%

** This includes an introductory bonus of 1.25% gross p.a./AER that is fixed until 28 February 2014

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.