Savings and Investments

Monthly Saver

Save a little every month and watch your savings grow.

Whatever you’re saving for, our Monthly Saver account is an ideal way to put a little aside every month to help you save for something big.  Our Monthly Saver also gives you a guaranteed rate.  The Standard Rate is guaranteed to be Bank Base Rate +1.50% variable until 31/01/12.

Account features
  • Only available in our branches.
  • Rates guranteed to track Bank Rate until 31.01.12
  • £10 minimum deposit.
  • £250 maximum monthly investment.
  • £1,000,000 maximum balance.
  • Interest is variable and paid to the account annually on 31 January.
  • 1 withdrawal permitted until 31 January 2011, standard rate of interest payable on 2nd withdrawal.  Unlimited withdrawals from 1 February 2011.
  • Conditional Bonus is applicable until 31st January 2011, conditions apply*.
  • Please read the Key Product Information for this account before you apply.

Save regularly and be rewarded

With our Monthly Saver account you can save from £10 to £250 per month. You can still earn our Conditional Bonus rate of interest even if you make one withdrawal and miss one monthly payment.

The easiest way to add to your savings each month is by Standing Order from another account. Alternatively you can make payments over the counter at any branch of Derbyshire Building Society.

Interest Rates gross p.a./AER
Until 31 January 2011
Standard Rate Bank Base Rate +1.50% variable
(currently 2.00%)
Conditional Bonus Rate Bank Base Rate +3.50% variable
(currently 4.00%) +
1 February 2011 to 31 January 2012
Standard Rate Bank Base Rate +1.50% variable
(currently 2.00%)
1 February 2012 onwards
Standard Rate variable
View previous rates

+ AER including Conditional Bonus.
Definitions of 'Gross p.a.' and 'AER' can be found in our glossary of terms.
Bank Base Rate is the Bank of England’s Official Bank Rate and is currently 0.50% as at 19 October 2009.

* Qualifying for the Conditional Bonus rate
You will receive interest at the bonus rate on 31 January 2011 if you:

  • Save from £10 to £250 each month and miss no more than one monthly payment between opening and 31 January 2011.
  • Do not make more than one withdrawal in the account year.

You will qualify for the bonus rate on closure if you:

  • Have missed no more than one monthly payment in the account year.
  • Have not made more than one withdrawal in the account year.

Even if you do not qualify for the bonus rate, you will receive interest at the Standard Rate.  After 01/02/11 there is no Conditional Bonus Rate applicable.

For example, if you save £100 a month for 12 months until 31 January 2011 into our Monthly Saver and make no withdrawals, you would earn £26.08 gross interest on 31 January 2011 based on the current conditional bonus rate of 4.00% gross p.a./AER (variable).

How it works

Opening: Apply in Branch ONLY. You can open this account by cheque or cash.
Pay money in: By Standing Order (form available here ), or in branch. Payments to be made regularly.
Take money out: 1 withdrawal allowed until 31/01/11.  Exceeding this will result in payment of the Standard interest rate.

You can download the account brochure here...