Market-Leading Premier Postal Savings Account

Category: Savings
Date: 4/14/2008 6:11:32 PM

The Cheshire Building Society has launched a new Premier Postal Savings Account offering a competitive 6.00% gross/5.88% AER including an introductory bonus of 0.75%, guaranteed until the 31st December 2008, subject to a minimum balance of £10,000 being maintained.

With a minimum investment of £10,000 and a maximum of £2 million, savers can benefit from one of the best rates available in the market while still enjoying easy access to their funds.

Savers must maintain a minimum balance of £10,000 but can make unlimited withdrawals of £500 or more, at any time. This gives savers much needed flexibility, with the added bonus of a guaranteed rate, which is particularly attractive to customers given the current economic uncertainties.

David Gibson, Senior Marketing Manager for Cheshire Building Society, commented: "The Premier Postal Savings Account offers a fantastic rate and easy access to funds, allowing investors not only to save for a rainy day, but also to act quickly if that rainy day should arrive."

The 'AER' stands for Annual Equivalent Rate and illustrates what the interest rate would be if it was paid and compounded once each year.

The 'Gross' rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.

Rates are correct as at 10th April 2008. The interest rate is variable and is paid annually and calculated as at 31st December.