Cheshire Building Society postal account changed

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Cheshire Building Society postal account changed

Mon 21st Dec 2009

The interest rate on the 30 Day Postal Saver Account from Cheshire Building Society has been increased.

A new rate of 3.25 per cent gross p.a./AER is now being offered, with a with minimum deposit of £1,000 for the first year.

The rate applies on the condition that there are no more than four withdrawals in a year and the balance of £1,000 is maintained, otherwise the interest changes to 0.1 per cent.

This revised rate is a quarter of a percentage point higher than the original rate that was place on the product when it launched in October.

Alistair Welham, head of products and marketing at Cheshire Building Society, said: "Customers with a lump sum to invest for the longer term can take advantage of a great rate without having to tie their money up, giving the combination of access and a good return from a name you can trust."

Cheshire, Derbyshire and Dunfermline Building Societies launched the Monthly Saver Account in October, offering savers a rate of 3.5 per cent, tied to the Bank of England base rate.

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