Summer Fixed Rate Bonds
Key features
- To request an information pack please call us on 0800 169 1076
- Choose from 2 different fixed rate terms. Each term ends on a specific date
- Immediate withdrawals (subject to a penalty equivalent to 180 days’ interest) of up to £500 cash and £5,000 by cheque (larger sums are available by cheque in a few days). Withdrawals will affect the AER. See below
- Save from £1,000 to £500,000**
- These are fixed term accounts, which end on 15 September 2009 or 2010
- On 16 September 2009 or 2010 your account will be transferred to our Branch Instant account, or alternatively we will offer you a further fixed rate.
Latest interest rates (from 23 July 2008)
Fixed Rate Period and penalty withdrawal - from the day the account is opened until 15 September 2009
Latest interest rates (from 23 July 2008)
Fixed Rate Period and penalty withdrawal - from the day the account is opened until 15 September 2010
| Term and issue (to be indicated on application form) |
Annual interest | Monthly interest | |||
|---|---|---|---|---|---|
| Gross pa+/AER* | Net pa+ | Gross pa+ | Net pa+ | AER* | |
| 1 Year Summer Fixed Rate Bond (2nd Issue) |
6.75% | 5.40% | 6.55% | 5.24% | 6.75% |
Latest interest rates (from 23 July 2008)
| Term and issue (to be indicated on application form) |
Annual interest | Monthly interest | |||
|---|---|---|---|---|---|
| Gross pa+/AER* | Net pa+ | Gross pa+ | Net pa+ | AER* | |
| 2 Year Summer Fixed Rate Bond (2nd Issue) |
6.30% | 5.04% | 6.13% | 4.90% | 6.30% |
Interest will be earned from £1. It is first paid on 1 August 2009, then annually on that date.
During the fixed rate period
- All withdrawals are subject to a penalty equivalent to 180 days' loss of interest on the amount withdrawn. Withdrawals will affect the AER
- Once the fixed rate account you have selected has been withdrawn to new savers, you cannot make further deposits
After the fixed rate period
- The account name will change to Branch Instant
- The interest rates become variable
- All withdrawals are penalty free
- Further deposits can be made
* 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.
** 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.
