Instant Option (4th Issue)
Key features
- Penalty free instant access
- Tiered variable interest rates
- Immediate withdrawals of up to £500 cash or £5,000 by cheque (larger sums are available by cheque in a few days)
- Save from £2,500 to £250,000***
- Passbook operated
| Balance | Gross pa+/AER* | Net pa+ |
|---|---|---|
| £25,000 plus | 1.90% | 1.52% |
| £5,000-£24,999 | 1.65% | 1.32% |
| £2,500-£4,999 | 1.15% | 0.92% |
Interest is paid annually on 1 March.
You can add to Instant Option (4th Issue) as much and as often as you like (up to the specified limits).
Tiered interest rates
- As the amount saved reaches the next interest rate level the higher rate is applied automatically to the whole balance for the time it remains at that level
- The more you save, the higher the rate
* 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 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.
