31 August 2012
From today, Friday 31 August, 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 fixed-term, branch-based account paying a competitive rate of 5 per cent gross p.a./AER* (variable) until 30 September 2013.
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 30 September 2013, they will earn 5 per cent gross p.a./AER* (variable).
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 per cent 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 per cent 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.