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Birmingham Midshires pledges to better mutual rivals

Birmingham Midshires is guaranteeing that it will better the savings rates offered by the top five building societies.


The society which has been bought by Halifax is to become the first high street lender to link the rates on its branch based savings accounts to its mutual rivals.


It says the &#39Rate Pledge&#39 initiative is aimed at the traditional building society saver looking for the convenience of operating through a local branch.


Chief executive Ian Kerr says: &#34The Rate Pledge provides a guarantee that the returns on our core savings accounts will be never fall below the average offered by the top mutuals.&#34

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