Product update: Cheshire, Derbyshire and Dunfermline

19 March 2014

The Cheshire, Derbyshire and Dunfermline Building Societies, part of the Nationwide Group, are today launching new Fixed Rate Cash ISAs and a new issue of Platinum Monthly Saver

Fixed Rate ISAs

The new issues being launched are:

  • Cheshire Two-year Fixed Rate ISA paying 2.05% AER tax-free *
  • Derbyshire Fixed Rate ISA Issue 83 paying 2.05% AER tax-free *
  • Dunfermline Fixed Rate ISA Issue 73 paying 2.05% AER tax-free *

Monthly interest options are also available for all Cheshire, Derbyshire and Dunfermline Fixed Rate ISAs.

All previous issues of the above Fixed Rate ISAs were withdrawn from sale at close of business on 17 March 2014.

All the accounts must be opened with a minimum of £100. All the rates noted above are for annual interest.

Platinum Monthly Saver
Platinum Monthly Saver is a branch-based account with a fixed term. Customers can pay in between £100 and £500 a month over the term of the account. 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 3.00% AER*/gross p.a. (variable). The fixed term runs until 30 June 2015.

However, if more than one withdrawal is made or more than one monthly deposit is missed, a lower rate of 1.00% AER*/gross p.a. (variable) will be paid. For Derbyshire and Dunfermline Platinum Monthly Saver accounts, a lower rate of 1.00% AER*/gross p.a. (variable) will be paid if the account is closed during the term.

At the end of the fixed term, the account will automatically revert to an instant access account paying a variable rate of 1.00% AER*/gross p.a. with no restrictions on deposits or withdrawals. Customers will be contacted in advance of their fixed term coming to an end.

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.

The gross rate of interest is the interest rate payable before any income tax is deducted (if you do pay tax).

The net rate of interest is the interest rate payable after any income tax is deducted (if customers do pay tax)

Fixed Rate ISAs


Early access charges - Cheshire Two-year Fixed Rate ISA, Derbyshire Fixed Rate ISA issue 84 and Dunfermline Fixed Rate ISA issue 74
Loss of interest 180 days

The account can be closed or transferred prior to maturity, subject to the number of days loss of interest which applies to the account as detailed above. These early access charges will not apply during the cancellation period or on death of an account holder.

Platinum Monthly Saver


  Platinum Monthly Saver – Issue 10 (Cheshire & Derbyshire)
Platinum Monthly Saver – Issue 5 (Dunfermline)
Availability In branch
Deposits Multiple deposits allowed up to monthly maximum of £500.
Deposit amounts can vary as long as they are between £100 and £500.
If more than one monthly deposit is missed before 30 June 2015, interest will be paid at the lower rate.
Withdrawals Unlimited withdrawals allowed. However, if more than one withdrawal is made before 30 June 2015, interest will be paid at the lower rate.
Min. opening and operating balance £100
Max. opening balance £500
Min. monthly deposit £100
Max. monthly deposit £500
Account opening Account must be opened by an adult over 16. Account can also be opened on behalf of someone under the age of 16. Only the person opening the account will be able to operate it.

The 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.