Dunfermline Building Society launches Platinum Monthly Saver
The Dunfermline Building Society (dunfermline.com) has launched Platinum Monthly Saver, a new account designed to encourage people to build up a nest egg by saving on a regular basis.
Platinum Monthly Saver is a fixed-term, branch-based account paying a variable rate of 5% gross p.a./AER until the first anniversary of the account opening.
Customers can pay in between £100 and £500 a month over the term of the account either by cash, cheque or standing order. Provided the saver makes no more than one withdrawal and misses no more than one monthly deposit between account opening and the account anniversary then they will earn 5% gross p.a./AER. If more than one withdrawal is made, more than one deposit is missed or the account is closed during the term, a lower rate of 1% gross p.a./AER will be paid. Withdrawals and closure of the account are also permitted without notice.
Interest is calculated on a daily basis and credited to the customer’s account on the anniversary of account opening or on closure of the account.
At the end of the fixed term, the account will automatically revert to an instant access account paying a variable rate of 1% gross p.a./AER with no restrictions on deposits or withdrawals.
The Dunfermline will write to customers in advance to notify them that their fixed term is coming to end.
