Increase your options
24 January 2007
Chelsea Building Society has launched a new range of Fixed Rate Options. The range includes a new 1 Year, 2 Year and ClicknSave Fixed Rate Option effective from Saturday 27 January 2007.
The current 1 Year Fixed Rate Option (23rd Issue), 2 Year Fixed Rate Option (23rd Issue) and ClicknSave Fixed Rate Option (13th Issue) are being withdrawn at close of business on Friday 26 January 2007.
Details of the new Fixed Rate Options are as follows:
| Account Name | Minimum Opening Investment | Annual Rates | Monthly Rates | AER2 | ||
|---|---|---|---|---|---|---|
| Gross pa1 | Net pa1 | Gross pa1 | Net pa1 | |||
| 1 Year Fixed Rate Option (24th Issue) Fixed until 03 June 2008 |
£1,000 (max £500,000) 3 | 5.95% | 4.76% | 5.79% | 4.63% | 5.95% |
| 2 Year Fixed Rate Option (24th Issue) Fixed until 03 June 2009 |
£1,000 (max £500,000) 3 | 5.90% | 4.72% | 5.75% | 4.60% | 5.90% |
| ClicknSave Fixed Rate Option (14th Issue) Fixed until 08 October 2008 |
£500 (max £500,000) 3 | 5.90% | 4.72% | 5.75% | 4.60% | 5.90% |
For all options, annual interest is first paid on 1 February 2008 and annually thereafter. A monthly interest option is also available if required.
Withdrawals made before the end of each Fixed Rate period will be subject to a penalty equivalent to 90 days loss of interest on the amount withdrawn.4 After the Fixed Rate period, immediate penalty free withdrawals are permitted.
To find out more about Chelsea Savings account's or interest rates contact Chelsea at your local branch or call the Savings Helpline on 01242 283593. Calls may be recorded and/or monitored for security, training and customer service purposes.
Notes
- Gross pa/Net pa: Net interest equals gross interest less income tax at the rate specified by law
- AER: AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year. Withdrawals may affect the AER
- Provided that the account holder’s total investment in the Chelsea does not exceed £1 million
- Withdrawals are subject to daily limits – you can normally withdraw up to £250 in cash or £5,000 by cheque on demand. Larger sums by cheque may be withdrawn in a few days.
- Chelsea is the 6th largest building society with assets of £10bn
Further information for media about Chelsea can be found by visiting: http://www.thechelsea.co.uk/html/media/index.html
For more information contact Vicki O’Connell on 01242 271466 or Susie Ratcliffe on 01242 271332
This page must be read in conjunction with the Information for Chelsea Investors page.
