Ready ... Steady ... Save!

Key features

• Designed for children aged 15 or under who want to start saving. See below
• 5.45% gross pa⁺/AER* variable (currently 4.36% net pa⁺)
• Save from £1 to £20,000
• Withdraw your money as often as you like with instant, penalty free withdrawals
• Easy to open and simple to operate at your local branch or by post

Interest is paid annually on 1 December.

How old do I need to be?

• Aged under 10? A parent/guardian will need to open the account for you
• Aged between 10 and 15? You can open an account in your own name at a branch. If you open this account by post it will need to be opened in the name of your parent or guardian
• Aged 16 over? You might want to open a different account such as a Chelsea Cash ISA (2nd Issue) instead

Withdrawals

• You can add to your savings as little and as often as you wish
• Take your account passbook to your local branch to withdraw your money
• Alternatively, post your withdrawal request to Head Office. Please remember to include your account passbook with your request
• Over £500 will need to be withdrawn by cheque

* 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.

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