Fixed rate savings

14 September 2007
 
Chelsea Building Society has launched three new Fixed Rate Savings accounts effective from Saturday 15 September 2007.
The current 2 year (2nd Issue) and 3 year (2nd Issue) Fixed Rate Savings and ClicknSave Fixed Rate Option (17th Issue) will be withdrawn at close of business on Friday 14 August 2007.

Details of the new Fixed Rate Savings are as follows:

Account name Minimum opening investment
Annual Rates
Monthly rates
AER2
Gross pa1 Net pa1 Gross pa1 Net pa1

2 year Fixed Rate (3rd Issue)
Fixed until 15 October 2009

£1,000
(max £500,000) 4

6.05%

4.84%

5.89%

4.71%

6.05%

3 year Fixed Rate (3rd Issue)
Fixed until 15 October 2010

£1,000
(max £500,000) 4

5.90%

4.72%

5.75%

4.60%

5.90%

ClicknSave Fixed Rate Option (18th Issue)
Fixed until 5 May 2009

£500
(max £500,000) 4

6.10%

4.88%

5.94%

4.75%

6.10%

Annual interest is first paid on 1 September 2008 and annually thereafter. A monthly interest option is also available if required.

Withdrawals made before the end of the fixed rate period will be subject to a penalty equivalent to 90 days’ loss of interest on the amount withdrawn5. After the fixed rate period, immediate penalty free withdrawals5 are permitted.

To find out more about Chelsea savings account's or interest rates contact Chelsea at your local branch or call the fixed rate savings information line on 0800 1691076 3.

Notes

  1. Gross pa/Net pa: Net interest equals gross interest less income tax at the rate specified by law
  2. 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
  3. This is an automated line
  4. Provided that the account holder’s total investment in the Chelsea does not exceed £2 million
  5. Minimum withdrawal is £250
  6. Withdrawals and transfers are only permitted by phone or post
  7. Chelsea is the fifth largest building society with assets of over £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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