Product update: Easy Saver ISA & Cheshire ISA Saver

08 November 2013

On 8 November 2013, the Cheshire, Derbyshire and Dunfermline Building Societies, part of the Nationwide Group, are launching a new issue of Easy Saver ISA. In addition, Cheshire will be launching a new issue of ISA Saver.

Easy Saver ISA (Cheshire, Derbyshire and Dunfermline Building Societies)

The branch-based Easy Saver ISA (Issue 4) pays 1.60% AER* tax-free variable, which includes a fixed introductory bonus of 1.10% until 30 June 2015.

The account allows new cash ISA subscriptions only with a minimum opening balance of £1. Unlimited withdrawals and deposits can be made, subject to the cash ISA allowance.

Easy Saver ISA – Issue 3 was withdrawn from sale on 7 November 2013.

ISA Saver (Cheshire Building Society)

ISA Saver (Issue 5) is a cash ISA paying 1.50% AER/tax-free variable*, which includes an introductory fixed bonus of 1.00% AER/tax-free until 31 January 2015. The rate applies to balances of £1,000 or more.

The new account accepts transfers in, allowing savers to deposit both new and previous years’ cash ISA subscriptions. Savers can open ISA Saver either online or by phone, but transfer in requests must be completed online. The account is managed by post and allows unlimited withdrawals and deposits (subject to the annual cash ISA allowance).

ISA Saver (Issue 4) was withdrawn from sale at close of business on 7 November 2013.

Notes to editors:

* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest were paid and compounded once each year. Tax-free is the contractual rate of interest payable where interest is exempt from income tax.

RATES FOR EASY SAVER ISA (ISSUE 4), EFFECTIVE FROM 8 NOVEMBER 2013

EASY SAVER ISA (ISSUE 4) AER / tax-free variable (inc bonus) AER / tax-free variable (exc bonus)
 £1+  1.60% 0.50%

Easy Saver ISA (Issue 4) includes a 1.10% fixed introductory bonus rate until 30 June 2015. After this date it reverts to a variable rate, currently 0.50% AER tax-free.

   EASY SAVER ISA (ISSUE 4)
 Availability In branch
 Withdrawals Instant access
 Deposits Unlimited, subject to annual cash ISA allowance. New subscriptions only, no transfers in or consolidations allowed
Min. opening balance  £1
Min. operating balance  £1
 Interest Derbyshire and Dunfermline: paid annually on 30 September
Cheshire: paid annually on 31 December

RATES FOR CHESHIRE ISA SAVER (ISSUE 5), EFFECTIVE FROM 8 NOVEMBER 2013

CHESHIRE ISA SAVER - ISSUE 5

 ISA Saver (Issue 5)  AER / tax-free variable (inc bonus) AER / tax-free variable (exc bonus) 
 £1,000+  1.50%  0.50%
 £1 - £999 (variable)  n/a 0.25%

ISA Saver Issue 5 includes a 1.00% fixed introductory bonus rate until 31 January 2015. After this date it reverts to a variable rate, currently 0.50% AER tax-free.

   ISA SAVER (ISSUE 5)
Availability   Online or phone, managed by post.
Transfer in requests completed online (www.thecheshire.co.uk).
Withdrawals  Unlimited, free withdrawals
Transfers In  Yes – transfer in requests must be completed online
Min. opening balance  £1,000
Min. operating balance  £1
Maximum operating balance  No maximum. New subscriptions subject to annual cash ISA allowance.

The Cheshire, Derbyshire and Dunfermline Building Societies 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.