Monthly Saver Account - Exclusive to Branches

Regular saver accounts
Monthly Saver Account

Key Product Features

Monthly Saver Account (Issue 2) - Exclusive to Branches
Investment Gross Rate p.a variable% AER variable% Find your nearest branch
Year 1 Standard Rate
(account opening to 31.01.11) - Annual Interest		 £10 - £250 per month Bank Base Rate + 1.50% to give a current rate of 2.00% Bank Base Rate + 1.50% to give a current rate of 2.00% Find your nearest branch - Monthly Saver Account
Year 1 Conditional Bonus Rate**
(account opening to 31.01.11) - Annual Interest		 £10 - £250 per month Bank Base Rate + 3.50% to give a current rate of 4.00% Bank Base Rate + 3.50% to give a current rate of 4.00%* Find your nearest branch - Monthly Saver Account

Year 2 Rate
(from 01.02.11 to 31.01.12)
- Annual Interest

 £10 - £250 per month Bank Base Rate + 1.50% to give a current rate of 2.00% Bank Base Rate + 1.50% to give a current rate of 2.00% Find your nearest branch - Monthly Saver Account
Year 3 Rate
(from 01.02.12 onwards)
- Annual Interest		 £10 - £250 per month Variable rate currently 2.00% Variable rate currently 2.00% Find your nearest branch - Monthly Saver Account
Find out more about Monthly Saver Account     Previous rates

Rates correct at 16 December 2009 and are relative to Bank of England Base Rate of 0.5%.

*AER including conditional bonus.

**Qualifying criteria for Conditional Bonus Rate: The bonus rate will be paid provided that no more than 1 monthly payment has been missed and no more than 1 withdrawal has been made until 31 January 2011 (Year 1). From 1 February 2011 there is no conditional bonus rate. The standard rate will apply if the bonus criteria is not met.

Monthly Saver Example

If you save £100 on the 1st of each month (starting on 01.02.2010) for 12 months into our Monthly Saver Issue 2 and make no withdrawals, you would earn £26.33 gross interest during the period 01.02.2010 to 31.01.2011 (based on the current conditional bonus rate of 4.00% gross p.a./AER). As interest is paid annually on 31st October each year, £15.08 gross interest would be credited to your account on 31.10.2010. Interest for the period 01.11.2010 to 31.01.2011 (£11.25 gross) would be credited to your account at the next interest payment date of 31.10.2011, together with any additional accrued interest for the period 1.02.2011 to 31.10.2011. (Or on account closure if this is prior to 31.10.2011).

Summary Box
Key Product Information for our Savings Accounts
Account Name Monthly Saver
Interest Rates (AER) See the rates information above.
Tax Status Interest will be paid net, after the deduction of income tax at the specified rate, unless you register your account with us to receive gross interest.
Conditions for Bonus Payments The bonus rate will be paid provided that no more than 1 monthly payment has been missed and no more than 1 withdrawal has been made until 31 January 2011 (Year 1). From 1 February 2011 there is no conditional bonus rate. The standard rate will apply if the bonus criteria is not met.
Withdrawal Arrangements

One withdrawal allowed until 31 January 2011. Exceeding this will result in payment of standard interest rate, unlimited withdrawals allowed after 31 January 2011.
Access By Branch only.

Details Summary

  • Interest is calculated as at 31 October each year and can either be paid back to this account where it will earn even more interest, direct to another Cheshire investment account or to your bank/building society.
  • The conditional bonus rate is payable until 31.01.2011.  To qualify for the conditional bonus rate you are permitted to miss up to one monthly deposit and make up to one withdrawal from the account.  If you do not satisfy the conditional bonus payment criteria, the standard rate will apply.
  • If you close your account in the period up to 31.01.2011, you will still qualify for the conditional bonus rate, provided you have missed no more than one monthly payment and made no more than one withdrawal.
  • From 1 February 2011 no conditional bonus rate is payable and unlimited withdrawals and deposits are allowed.
  • Minimum deposit of £10 per month and maximum deposit is £250 per month.
  • Multiple deposits are allowed in any one month provided the maximum deposit limit of £250 is not exceeded.
  • No maximum or minimum withdrawal limits provided a minimum balance of £10 is kept in the account.
  • Cheque deposits will earn interest after 2 working days from the date the Cheshire receives them. Standing order deposits earn interest from the date of funds transfer.
  • Deposits by standing order need to leave your bank/building society account by the 20th of each calendar month to ensure it’s credited to the Monthly Saver account by the end of the month.

Other Information

  • Terms and Conditions
    -  The rate you receive will be the prevailing rate at the time we receive your application.
    -  The published rate on the day of opening is variable and can change at any time during the period of the investment.
Return to list View previous rates