New 7 Day Saver Launched

21 April 2008: Stroud & Swindon Building Society has today announced the launch of a new “7 Day Saver” account at a highly competitive rate of 6.00% AER, including an introductory bonus until 31 December 2008 of 0.60% gross.

This new product is available from all Stroud & Swindon branches, agencies, telephone (08457 252 423) and via the Stroud & Swindon website.  In addition, the product offers customers a great deal of flexibility, by only requiring seven days notice for penalty free withdrawals.

The account is a limited issue so customers wishing to take advantage of this competitive rate should apply early to avoid disappointment.

Briar Holdsworth, Savings Product Manager, comments:
“Although there is an introductory bonus of 0.60% gross until 31 December 2008 the highly competitive rate of 6.00% AER offers a great incentive for those thinking about putting some money aside for a rainy day, but it also offers customers the ability to access their money as and when they need to.  The fact that customers only need to give seven days notice to make a withdrawal without incurring any penalties, makes this a great product for those who require a deal of flexibility from their savings products.

“However, as this is a limited issue product, we expect demand to be high. Customers wishing to take advantage of this product should apply early, whilst the issue is still available.”

- ENDS –

For further information please contact:

David Greenleaf
Corporate Communications Manager
Stroud & Swindon
01453 768244

Suman Katyal / Karen Butcher
The Wriglesworth Consultancy
020 7845 7900

Notes for Editors

• Interest rate is currently 6.00% AER (6.15% gross, 4.88% net)
• Customers benefit from a 0.60% gross variable bonus until 31 December 2008
• From 1 January 2009, the rate will revert to the variable account rate, which is currently 5.55% AER (5.55% gross, 4.40% net)
• The rate is guaranteed to be no lower than the BoE base rate until 31 May 2009
• Interest is calculated daily and paid annually at midnight on 1 April each year
• Accounts can be opened at any Stroud & Swindon branch, agency, telephone (08457 252 423) or online
• 7 days notice is required for withdrawals or will be subject to a loss of 7 days gross interest
• Available to customers aged 18 or over
• Minimum balance to open and maintain the account is £5,000
• Maximum investment of £500,000 applies
• Limited to one account per customer
• No transfers are allowed into this account from other Stroud & Swindon accounts
• All rates are correct at time of printing

About Stroud & Swindon Building Society:

Stroud & Swindon has assets in excess of £3 billion.  The Society operates through a dedicated team of intermediary business development managers, with a branch network of 22 offices and 20 agencies in the South West, complemented by a customer contact centre based in Gloucestershire and website www.stroudandswindon.co.uk.