Increase your options

3 May 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 5 May 2007.
The current 1 year Fixed Rate Option (26th Issue), 2 year Fixed Rate Option (26th Issue) and ClicknSave Fixed Rate Option (15th Issue) are being withdrawn at close of business on Friday 4 May 2007.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 (27th Issue)
Fixed until 13 August 2008

£1,000
(max £500,000) 3

 6.00% 4.80% 5.84% 4.67% 6.00%

2 Year Fixed Rate Option (27th Issue)
Fixed until 13 August 2009

£1,000
(max £500,000) 3

 5.80% 4.64% 5.65% 4.52% 5.80%
ClicknSave Fixed Rate Option (16th Issue) Fixed until 04 December 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 May 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 withdrawn4. After the fixed rate period, immediate penalty free withdrawals are permitted.

To find out more about Chelsea savings accounts or interest rates contact Chelsea at your local branch or call the savings helpline on 0845 744 6622. 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 £2 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 Larger sums by cheque may be withdrawn in a few days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 £11bn

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 savers page.

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