Cheshire Members Privilege Regular Saver account launched

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Cheshire Members Privilege Regular Saver account launched

Wed 10th May 2006

A Cheshire Members Privilege Regular Saver account has been made available to its customers, with a variable rate of 4.9 per cent gross per year.

The product claims to reward member loyalty, as it is only available to customers who have been with the building society for 18 months or more.

Cheshire customers can open the account for a minimum balance of £1. A minimum investment of £25 per month is required up to a maximum of £500 per month.

Multiple deposits are allowed every month and two penalty-free withdrawals are also permitted per calendar year.

Neil Alcock, investment product manager at Cheshire, said: "Our members are very important to us and we believe they should be rewarded for their loyalty.

"The Members Privilege Regular Saver account provides members with a high interest rate that can be paid into their bank, added back into their account or paid into another account with the society"

There is no end term to this product, meaning that members who take the offer can take advantage of the quoted interest offer permanently.

Interest payments on the Cheshire Members Privilege Regular Saver account will be made annually on December 31st.