90 Day Notice account

Key features

Variable interest rate of 6.50% gross pa⁺/AER* (currently 5.20% net pa⁺)
Guaranteed to be at least 0.50% above Bank of England Base Rate until 10 July 2009
Penalty free withdrawals with 90 days´ prior written notice
Instant access subject to a penalty equivalent to 90 days´ loss of interest on the amount withdrawn
Save from £250 to £500,000*** per saver (a maximum of 2 savers permitted)
Annual or monthly interest

Latest interest rates (from 14 May 2008***)

Balance	Annual interest		Monthly interest
Balance	Gross pa⁺/AER*	Net pa⁺	Gross pa⁺	Net pa⁺	AER^*
£250 plus	6.50%	5.20%	6.31%	5.05%	6.50%

Interest will not be earned during any period when the account balance is below £250.

Interest is paid annually on 1 May.

Withdrawals

Penalty free withdrawals with 90 days´ prior notice until 10 July 2009
Immediate access subject to a penalty equivalent to 90 days´ loss of interest on the amount withdrawn ^††
Withdraw your money by cash or cheque at any of our branches⁺⁺ or by cheque by posting your request to us
From 11 July 2009, this account will become Branch Instant^† and withdrawals will be notice and penalty free

* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added to the account each year.
⁺ Net interest equals gross interest less income tax at the rate specified by law.
** If the Bank of England Base Rate changes before 10 July 2009, we'll change the interest rate on the account where necessary (which could be up or down) within 30 days.
⁺⁺ Up to £500 cash or £5,000 by cheque may be withdrawn immediately over the counter in a branch. Larger sums may be withdrawn by cheque in a few days.
*** Provided that your total savings in this and all other Chelsea accounts does not exceed £2 million.
^† This is a variable, instant access account.
^†† If you make a withdrawal without notice and interest accrued as on date of withdrawal in your account is insufficient to meet the penalty, then this will be deducted from the account balance. This means that you would not get back the original moneys deposited. Please bear this in mind when requesting or making a withdrawal without prior notice.

Chelsea Building Society subscribes to the Banking Code, a copy of which is available on request.