Cheshire Building Society postal account 'offers flexibility'

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Cheshire Building Society postal account 'offers flexibility'

Cheshire Building Society has unveiled its new 30 Day Postal Saver Account and claimed that it will appeal to savers who need flexibility in their banking.

Alistair Whelham, head of marketing at the organisation, commented that it offers a good return on investment, while at the same time giving people the ability to withdraw money if they need to.

The product gives a return of three per cent in the first year and then two per cent thereafter, as long as investors keep the balance above £1,000.

Mr Whelham said: "The 30 Day Postal Saver Account will appeal to anyone with a lump sum to invest for the longer term, but who doesn't want to tie their money up for a set period."

Only four withdrawals can be made per year and the interest rate drops to 0.10 per cent if any of the conditions are not maintained.

This month, Cheshire Building Society also released a monthly saver account which offers four per cent interest until October 31st 2010.

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