The UK-based Cheshire Building Society and Derbyshire Building Society, the trading divisions of Nationwide Building Society, have launched new one- and two-year fixed rate bonds, offering rates of up to 3.75% gross/AER.
Interest for the one-year bonds can be paid either on maturity 3.75% gross/AER (3% net) or monthly 3.69% gross (3.75% AER/2.95% net). Interest for the two-year bonds can be paid either annually 3.75% gross/AER (3% net) or monthly 3.69% gross (3.75% AER/2.95% net). The interest can be paid into a nominated account.
The minimum investment for the Cheshire’s one- and two-year fixed rate bonds is GBP5,000 and the maximum investment is GBP2 million. The minimum investment for the Derbyshire’s one- and two-year fixed rate bonds is GBP5,000 and the maximum investment is GBP1 million.
The maturity date for Derbyshire’s one-year fixed rate bond is February 28, 2010. Maturity date for the two-year fixed rate bond is February 28, 2011.
Gary Wilkinson, managing director of regional brands for the building societies, said: We are delighted to be able to offer savers the chance to invest in these regional building society fixed rate bonds, which offer a very competitive rate of interest, with the added benefit of being backed by the financial security of Nationwide, the UK’s biggest building society.
