Fixed rate savings

10 October 2007

Chelsea Building Society has launched three new Fixed Rate Savings accounts from Saturday 13 October 2007.
The current 2 year (3rd Issue) and 3 year (3rd Issue) Fixed Rate Savings and ClicknSave Fixed Rate Option (18th Issue) will be withdrawn at close of business on Friday 12 October 2007.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

1 year Fixed Rate (1st Issue)
Fixed until 25 November 2008

£1,000
(max £500,000) 4

 6.35% 5.08% 6.17% 4.94% 6.35%

2 year Fixed Rate (4th Issue)
Fixed until 25 November 2009

£1,000
(max £500,000) 4

 6.10% 4.88% 5.94% 4.75% 6.10%

ClicknSave Fixed Rate Option (19th Issue)
Fixed until 19 May 2009

£500
(max £500,000) 4

 6.15% 4.92% 5.98% 4.78% 6.15%

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

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 Chelsea on 08457 44 66 22 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. 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 Larger sums by cheque may be withdrawn in a few days
  6. Chelsea is the 5th 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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