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Branch Instant account

An account for people who need frequent access to their savings. It's operated through our branches and has a variable interest rate. You can apply either at a branch or by post.

How to apply 
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Key Features

  • Save from £1 up to a maximum of £2,000,000 per saver (maximum of 2 savers permitted)
  • Interest earned from £1
  • Interest paid annually on 1 November
  • Monthly interest option also available
  • Passbook operated.

 

Terms

The product terms should be read with the Standard Terms and Conditions (Standard Terms). Together the Product Terms and Standard Terms explain how your account works.

It is important that you read all the terms applicable before you decide whether to open this account.

1. General
  1. The terms that apply to Chelsea Branch Instant are these product terms and our savings account standard terms and conditions ('standard terms'). If there is any conflict between the product terms and the standard terms then the product terms apply.
  2. This account is one regulated by the Financial Services Authority's Banking Conduct of Business Sourcebook.
  3. If we make any changes to these product terms or our standard terms we will notify you in accordance with Condition 6.6 of our standard terms.
2. Deposit (minimum and maximum limits)
  1. The minimum opening and interest earning balance is £1.
  2. The maximum operating balance is £2,000,000.
3. Interest
  1. The interest rate is variable and we can change the interest rate if any of the circumstances set out in our standard terms, permitting us to vary the interest rate, occurs. We will notify you of any interest rate variation in accordance with Conditions 3.5/3.6 of our standard terms.
  2. Annual interest will be paid on 1 November.
  3. If you have elected to receive interest monthly then interest will first be paid on the last day of the month in which your account is opened and then subsequently on the last day of each following month. Monthly interest will be calculated by reference to the actual days in the month. The gross interest rate for the monthly interest option will be calculated at a rate which if added to the account each month would produce a rate so near as may be equivalent to the gross annual rate.
  4. Interest can be either:
    • Added to the account or
    • Transferred to another Chelsea account or
    • Transferred to your nominated bank or building society account.
4. Withdrawals/Transfers
  1. Withdrawals or transfers can be made without any prior notice, except that any withdrawal must not exceed the daily limits we set.
  2. Withdrawals may not be made (either wholly or in part) against the proceeds of any cheque, draft or order credited to the account within the preceding five working days.

Standard Terms

Read and print the Standard Terms and conditions for this account.

 

Summary box

Summary Box
Key Product Information for our Savings Account
Account Name Branch Instant
Interest rates (AERs) Variable rate paid annually or monthly.
See interest rate
Tax Status Gross or net
Conditions for bonus payment N/A
Withdrawal arrangements Instant withdrawals without loss of interest
Access Branch or post

Net: Interest on investments and savings amounts is payable net of income tax, which means after the deduction of income tax at the lower rate of 20%, or subject to the required registration gross.

Whether you can benefit from gross, net or tax free interest is dependent on your own personal circumstances and tax status and so may be subject to change in the future.

 

Interest rate

Interest rates are variable. All rates shown are per annum.

 

How to apply

This savings account can be operated in various ways and can be opened at a branch or via the post.

Note: When applying for an account you will need to verify your identity and address. Check our  verify your identity and address section for more details of what you may need to take with you.

Making an application

More information:

  • Call us on 0845 166 9219 
    Lines are open:
    Monday - Friday: 8am to 8pm
    Saturday: 9am to 1pm

 

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Chelsea Building Society and the Chelsea are trading names of Yorkshire Building Society. Principal office: Yorkshire House, Yorkshire Drive, Bradford BD5 8LJ. Yorkshire Building Society is a member of the Building Societies Association and is authorised and regulated by the Financial Services Authority. It is entered in the FSA register and our FSA registration number is 106085.

This site is intended for UK Residents unless otherwise stated. All communications with us may be monitored/recorded to improve the quality of our service and for your protection and security.

Charges to 0845 numbers may vary. Prices can be checked with your phone provider. Mobile calls usually cost more.

Chelsea Building Society and the Chelsea are trading names of Yorkshire Building Society. Principal office: Yorkshire House, Yorkshire Drive, Bradford BD5 8LJ. Yorkshire Building Society is a member of the Building Societies Association and is authorised and regulated by the Financial Services Authority. It is entered in the FSA register and our FSA registration number is 106085.

This site is intended for UK Residents unless otherwise stated. All communications with us may be monitored/recorded to improve the quality of our service and for your protection and security.

Charges to 0845 numbers may vary. Prices can be checked with your phone provider. Mobile calls usually cost more.

Get in touch with us:

  • Call us:
    http://www.thechelsea.co.uk/contact/index.html
  • Find a branch:
    http://www.thechelsea.co.uk/contact/branch_finder.html
  • Manage your accounts online:
    http://www.thechelsea.co.uk/security/online_help.html