Monthly Saver Issue 4 Terms and Conditions:

• 1. General - These Terms and Conditions for the Monthly Saver Account (“the Account”) should be read in conjunction with the current Cheshire General Terms and Conditions.  In the event of any differences between the Monthly Saver Account Terms and Conditions and the Cheshire General Terms and Conditions the Monthly Saver Account Terms and Conditions will prevail.
  1.1  You must open your Account with an initial deposit on the day of account opening of between £10 and £250.  Only one Account is allowed per customer.
  1.2  The balance on your Account must never exceed the maximum monthly balance. The maximum monthly balance means £250 in the month your Account is opened, increasing by £250 in each subsequent month.
  1.3  You have the right to cancel this product, within 14 days of opening the Account. Cancellation instructions must be received in writing before the 14th day. All instructions should be addressed to: Investment Team, Castle Street, Macclesfield, Cheshire SK11 6AF.

• 2. Interest
  2.1  We calculate interest on the daily cleared balance on your Account and will pay this to your Account on the 31st October each year and thereafter on the 31st October of each subsequent year.
  2.2  From the date you open your Account until 31st July 2011 (“Year 1”)  the rate of interest is guaranteed to match the published rate of the Bank of England (the “Base Rate”)from time to time plus 3.50% Gross.
  2.3  From 1st August 2011 until 31st July 2012 (“Year 2”)  the rate of interest is guaranteed to match the Base Rate plus 1.50% Gross.
  2.4  From 1st August 2012 the rate of interest is variable and no longer linked to the published rate of the Bank of England.  We can vary the interest rate as set out in the current Cheshire General Terms and Conditions.
  

• 3. Deposits and Withdrawals
  3.1  Cash, Cheque and Standing Orders only are permitted as methods of deposit.  No internal transfers or Cheshire cheques are permitted.
  3.2  Deposits can be made in more than one transaction per month provided that the total amount deposited in any one month does not exceed £250.
  3.3  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. Cash deposits earn interest from the date of deposit.
  3.4  Deposits by Standing Order need to leave your bank/building society account by the 20th of each calendar month to ensure it is credited to your Account by the end of the month.
  3.5  In Year 1 you are permitted to miss 1 monthly deposit.  If you miss more than 1 deposit the total balance on your Account will attract the Year 2 rate of interest from the first day of the following month in which the deposit is missed until the end of Year 2.   From 1st August 2011 there is no requirement to make any set number of deposits.
   3.6  In Year 1 you are permitted to make 1 withdrawal from the account.  If you make more than 1 withdrawal in Year 1 the total balance on your Acco untwill attract the Year 2 rate of interest from the date of the second withdrawal until the end of Year 2.  From 1st August 2011 you may make an unlimited number of withdrawals.

• 4 Account Closure
  4.2 You can close your account before 31 July 2011 and you will qualify for interest at the bonus rate up to the date of closure of your account if you have, during the account year up to the date of closure, complied with the following:
  a) made no more than 1 withdrawal, and
  b) made the qualifying payments under Condition 3 in all or all but one of the months during which your account was open.
  4.3 Where the account is closed within three months of your death or (in the case of a joint account) the death of one of you, we will pay interest at the bonus rate for the account year up to the date of death if these Conditions were complied with in the account year up to the date of death.
  4.4 When your account is closed, you will no longer be a member of Nationwide Building Society in respect of that account.