Fixed rate savings

7 November 2007

Chelsea Building Society has announced the launch of a new ClicknSave Fixed Rate Option on Saturday 10 November 2007.
The current ClicknSave Fixed Rate Option (19th Issue) will be withdrawn at close of business on Friday 9 November 2007.

Details of the new ClicknSave is as follows:

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

ClicknSave Fixed Rate Option (20th Issue)
Fixed until 12 August 2009

£1
(max £500,000) 3

 6.65% 5.32% 6.46% 5.17% 6.65%

Annual interest is first paid on 1 November 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 4.

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. Provided that the account holder’s total investment in the Chelsea does not exceed £2 million
  4. Calls to Chelsea may be recorded and/or monitored for security, training and customer service purposes Minimum withdrawal is £250
  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 Larger sums by cheque may be withdrawn in a few days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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