Classic Account
Key features
- Tiered interest rate structure, so the more you save the more you earn
- Save from £2,500 up to a maximum of £250,000*** per saver (maximum of two savers are permitted)
- Instant penalty free access
- Withdraw cash at LINK ATMs using a Chelsea card ++
- Receive monthly statements to keep you up to date
| Balance | Gross pa+/AER* | Net pa+ |
|---|---|---|
| £50,000 plus | 3.40% | 2.72% |
| £25,000-£49,999 | 3.15% | 2.52% |
| £10,000-£24,999 | 2.60% | 2.08% |
| £5,000-£9,999 | 2.35% | 1.88% |
| £2,500-£4,999 | 1.85% | 1.48% |
Interest is paid annually on 10 March.
You can add to the Classic Account as much and as often as you like, and as the amount saved reaches the next interest level the higher rate is applied automatically to the whole balance for the time it remains in that level.
So the more you save the higher the interest.
* 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.
++ Maximum withdrawal £200 per day
** If there is a change in the Bank of England Base Rate after this date, the interest rates on all Chelsea savings accounts will be reviewed.
*** Provided that your total savings in this and all other Chelsea accounts does not exceed £2 million.
Chelsea Building Society subscribes to the Banking Code, a copy of which is available on request.
