Fixed Rate e-ISA

To open a Fixed Rate e-ISA, you must be aged 16 and both resident and ordinarily resident in the UK for tax purposes or be a qualifying Crown employee or married to, or in a civil partnership with, a qualifying Crown employee. Accounts can only be held in your sole name.

1. The minimum initial deposit is £100.
2. The maximum tax-free savings allowance you can deposit is currently £5,340 for the 2011-2012 tax year. See ISAs explained. This is subject to change, HM Revenue & Customs review this every year and limits may change in the future. The maximum amount applies irrespective of any withdrawals you may make.
3. If you deposit money in your Fixed Rate e-ISA in any tax year, you will not be able to deposit money in another Cash ISA in the same tax year.
4. Your initial deposit can be made by debit card, cheque, external transfer from another savings or bank account, or transfer from another account held with Chelsea (this includes transfers from any other ISAs). Any subsequent cheques received will be returned to you. We do not accept Postal Orders
5. Additional deposits (minimum amount £10) can be made by debit card, transfer from another savings or bank account, or transfer from another account held with Chelsea whilst the issue remains open.
6. Deposits by transfer from another Chelsea online account will start to earn interest on the day they are credited to your account. Transfers from an existing Chelsea branch or postal account to an online account will earn interest including the date of transfer on the previous account, and will start to earn interest on the online account from the following working day.
7. You can only make deposits to the Fixed Rate e-ISA whilst the issue remains open to new investors. The Fixed Rate e-ISA is a limited issue product, which means it can be withdrawn from sale without notice at any time. You will not be able to add future tax year ISA allowances to the account during the term.
8. No withdrawals are permitted from this account. If funds held within the Fixed Rate e-ISA are required, the account must be closed and a loss of interest will be applied on the closing balance. This includes transfer to another ISA provider.
9. Early closure cannot be requested online and must be requested in writing to: Chelsea Building Society, Internet Savings Department, Timbercombe House, Charlton Kings Business Park, Cirencester Road, Cheltenham, Gloucestershire, GL53 8DZ.
10. If you invest your total Cash ISA allowance and then withdraw some money, you will not be able to put money back in to your Cash ISA in that tax year. For example, based on a maximum subscription of £5,340, if you invest £500 in your Cash ISA and then withdraw £200, you will only be able to invest a further £4,840 in that tax year. If you decide to close your Cash ISA you cannot reinvest in another new Cash ISA for the rest of that tax year.

Fixed Rate e-ISA is an internet operated Cash ISA offering a fixed tax-free interest rate.

The minimum opening balance is £100. The maximum amount is currently £5,340 for 2010-2011, plus any ISA subscriptions from previous tax years. Please see ISAs explained.

On maturity your balance will be automatically transferred to an online easy access Cash ISA Account.

The HM Revenue & Customs rules allow you to transfer from one ISA provider to another. If you wish to transfer savings held in a Cash ISA elsewhere to your Fixed Rate e-ISA, please complete a transfer request form including your e-ISA account number, and send it to your existing ISA provider. Requests to transfer-in must be made immediately following confirmation that your account has been opened and must be received within 30 days of the product being withdrawn from sale.

Please note: If you have already subscribed to another Cash ISA in the current tax year, please do not send an initial deposit with your completed application form.

Transfer out during the term is permitted but must be for the full balance and will be subject to a loss of interest on the closing balance, as described in section 2.8.

Annual interest is payable on the same date each year until the end of the term and is added to the account.

Interest will be paid free from tax unless you have breached HM Revenue & Customs rules.

You will be able to check your balance, interest rate and view statements showing transactions whenever you wish. We will advise you of the forthcoming maturity of your account, and generally communicate with you, via email. It is very important that you notify us if your email address changes.

You can change your contact details (postal address, email and telephone) when you are logged in. To change your name you will need to write, enclosing proof of the change, to Chelsea Building Society, Internet Savings Department, Timbercombe House, Charlton Kings Business Park, Cirencester Road, Cheltenham, Gloucestershire, GL53 8DZ.

Whilst Fixed Rate e-ISA offers many attractive features it is not based on the stakeholder minimum standards.

If you open a Fixed Rate e-ISA account and subsequently change your mind up to 14 days after the date the account is opened, we will close your account and repay your deposit, plus any interest you have earned. You will then be able to save in another Cash ISA in that tax year.

Call us on 0845 850 4041 for more details about closing your account. Alternatively, you can write to Chelsea Building Society, Internet Savings Department, Timbercombe House, Charlton Kings Business Park, Cirencester Road, Cheltenham, Gloucestershire, GL53 8DZ.

If at any time you're not satisfied with the service you've received, please let us know. We have a simple process enabling you to do this, the details of which are in our leaflet "How we handle your complaint", which can be downloaded from this site, obtained at any of our branches or requested by calling us on 0845 850 4041.

If we cannot come to a resolution to your satisfaction, you may have the right to refer the matter to the Financial Ombudsman Service, of which we are a member.

If you open an account it will be with Yorkshire Building Society (trading as Chelsea Building Society). Chelsea Building Society is operated under its own brand with its own products and as a trading name of Yorkshire Building Society.

Chelsea Building Society will communicate with you in English.

Yorkshire Building Society is a participant in the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000. Find out more.