Exclusive Savings
Key features
- Exclusively available to existing customers
- Variable interest rate of 5.00% gross pa+/AER* (currently 4.00% net pa+) guaranteed to track 0.25% below the Bank of England Base Rate**
- Guarantee reviewed annually on 1 October+++
- Penalty and notice free access when transferring to another Chelsea account
- Save from £250 to £1,000,000*** per saver (maximum of 2 savers permitted)
- Annual or monthly interest
| Balance | Annual interest | Monthly interest | |||
|---|---|---|---|---|---|
| Gross pa+/AER* | Net pa+ | Gross pa+ | Net pa+ | AER* | |
| £250 plus | 5.00% | 4.00% | 4.89% | 3.91% | 5.00% |
Interest is paid annually on 1 October.
Withdrawals
- Withdrawals other than to another Chelsea account subject to 40 days´ loss of interest or a penalty equivalent to 40 days´ interest on the amount withdrawn++
- Withdraw your money by cash or cheque at any of our branches++ or by cheque by posting your written request to us
* 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, 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++ Up to £500 cash or £5,000 by cheque may be withdrawn immediately over the counter in a branch. Larger sums may be withdrawn by cheque in a few days.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.
+++ If we decide to change the guarantee for any reason we will tell you. The guarantee is reviewed annually on 1 October.
Chelsea Building Society subscribes to the Banking Code, a copy of which is available on request.
