PostSaver 40 (2nd Issue)
Key features
- Attractive variable interest rate of 5.95% gross pa+/AER* (currently 4.76% net pa+)
- Guaranteed to be at least 0.25% above Bank of England Base Rate until 20 May 2009
- Penalty free withdrawals with 40 days´ prior notice
- Instant access subject to a penalty equivalent to 40 days´ interest on the amount withdrawn
- Save from £500 to £500,000** per saver (a maximum of 2 savers permitted)
- Annual or monthly interest
Latest interest rates (from 21 April 2008***)
Interest will not be earned during any period when the account balance is below £500.
Balance |
Annual interest |
Monthly interest |
|||
|---|---|---|---|---|---|
Gross pa+/AER* |
Net pa+ |
Gross pa+ |
Net pa+ |
AER* |
|
£500 plus |
5.95% |
4.76% |
5.79% |
4.63% |
5.95% |
Interest is paid annually on 1 February.
Withdrawals- Penalty free withdrawals with 40 days´ prior notice until 20 May 2009
- From 21 May 2009, all withdrawals are notice and penalty free
- Withdrawals may only be made by cheque payable to the account holder, or by BACS to your nominated bank or building society account
* 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.
*** If the Bank of England Base Rate changes before 20 May 2009, we´ll change the interest rate on the account where necessary (which could be up or down) within 30 days.
Chelsea Building Society subscribes to the Banking Code, a copy of which is available on request.
