For when choosing the right account gets too tough.
An account which pays at least the Bank of England Base Rate and gives you the choice of annual interest or monthly income. No notice of withdrawals up to £10,000.
If the Bank of England Base Rate changes before this date, we will change the interest rate on the account where necessary (which could be up or down) within 30 days.
† If a withdrawal over £10,000 is made without notice an equivalent of 50 days' loss of interest on the amount withdrawn will be applied. If the interest accrued on date of withdrawal is insufficient to meet the loss of interest, this will be deducted from the account balance. This means that you would not get back the original money deposited. Please bear this in mind when requesting or making a withdrawal without prior notice.
The product terms should be read with the Standard Terms and Conditions (Standard Terms). Together the Product Terms and Standard Terms explain how your account works.
It is important that you read all the terms applicable before you decide whether to open this account.
Read and print the Standard Terms and conditions for this account.
| Summary Box Key Product Information for our Savings Account | |
|---|---|
| Account Name | Chelsea Westminster |
| Interest rates (AERs) | Interest rates are variable and apply to balances of £100 plus. Interest is guaranteed to be at least the same as the Bank of England Base Rate until 1 November 2011. See interest rate |
| Tax Status | Gross or net |
| Conditions for bonus payment | N/A |
| Withdrawal arrangements |
Up to and including 1 November 2011, a cumulative total of withdrawals up to £10,000 permitted without notice or loss of interest. Withdrawals over the £10,000 permitted with 50 days' prior written notice or immediate access subject to an equivalent of 50 days' loss of interest on the amount withdrawn. From 2 November 2011, no notice of withdrawals required. |
| Access | Branch or post |
Net: Interest on investments and savings amounts is payable net of income tax, which means after the deduction of income tax at the lower rate of 20%, or subject to the required registration gross.
Whether you can benefit from gross, net or tax free interest is dependent on your own personal circumstances and tax status and so may be subject to change in the future.
* Rate guaranteed to be at least the same as Bank of England Base Rate until 1 November 2011.
This savings account can be operated in various ways and can be opened at a branch or via the post.
Note: When applying for an account you will need to verify your identity and address. Check our verify your identity and address section for more details of what you may need to take with you.
Chelsea Building Society and the Chelsea are trading names of Yorkshire Building Society. Principal office: Yorkshire House, Yorkshire Drive, Bradford BD5 8LJ. Yorkshire Building Society is a member of the Building Societies Association and is authorised and regulated by the Financial Services Authority. It is entered in the FSA register and our FSA registration number is 106085.
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