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E-Saver – Issue 2

Keep your savings handy in this online only account that lets you access your money in just a few clicks.

Key features

  • Save from £1 up to £1 million
  • Pays a variable** rate of interest
  • Choose to have your interest paid monthly or annually
  • Manage your account online 24 hours a day
  • Apply for an ATM card so you can withdraw up to £500 per day at any LINK ATM


gross† p.a./AER* variable**

Summary Box

Account Name e-Saver Issue 2
What is the interest rate?

Current rates - Effective 15 May 2020

This product pays a variable** rate of interest of:

Gross† p.a. AER*
0.10% 0.10%
Gross† p.a. AER*
0.10% 0.10%

Whether you need to pay tax is dependent on your own personal circumstances and so may be subject to change in the future.

† Interest is paid gross i.e. without tax being taken off on all our savings accounts – ISA accounts pay interest tax-free.

* AER stands for the Annual Equivalent Rate and shows you what the interest rate would be if interest was paid and added each year. This will enable you to compare more easily the return you can expect from your savings over time.

** Variable rate of interest means that the interest rate payable on your account can change and can move both up and down.


Payment of interest

  • Interest is calculated daily on cleared balances
  • Annual interest is paid on 31 March. It can be paid into the e-Saver - Issue 2 account, another Chelsea Building Society account or another building society or bank account
  • Monthly interest is paid on the last day of each month. It must be be paid into another Chelsea Building Society account or another building society or bank account.
Can Chelsea Building Society change the interest rate?

We can make changes to the interest rate on this account for particular reasons.

General Terms and Conditions (528 KB) 7 and 8 set out those reasons. Term 11 tells you how we will notify you of the changes.

What would be the estimated balance after 12 months based on a £1,000 deposit?

After 12 months your balance would be £1,001.00

We have worked this out assuming a £1,000 deposit is made on account opening, no further deposits or withdrawals are made throughout the 12 months, the interest earned is added to the account and no changes made to the current interest rate.

This is provided for illustrative purposes only and does not take into account your individual circumstances.

How do I open and manage my account?

You have to be at least 16 years old and a UK resident to open the account. The account can be held on your own or jointly with someone else.

Account opening and management
Accounts can be opened online with a minimum of £1.

The maximum balance is £1 million.

You will be able to check your balance and interest rates, and make and view transactions on your account online whenever you wish.

Account switching
If you currently have an existing Chelsea Building Society account it may be possible to transfer to this product, subject to meeting eligibility criteria. Please check with us to see whether this is possible.

Can I withdraw money?

The e-Saver – Issue 2 account allows instant withdrawals (minimum £1) without loss of interest.

For security reasons, online withdrawals are not available for the first 14 days after your account has been opened. After 14 days withdrawals can be made from your account at any time on condition that there are sufficient cleared funds in your account and that you maintain the minimum balance of £1.

If you choose to have a LINK card on your e-Saver – Issue 2 account you will be able to withdraw up to £500 per day in cash or undertake up to 5 withdrawals within these limits per day from over 30,000 cash machines across the country.

Please be aware if a withdrawal is made from the account by CHAPS a charge of £23.50 will be incurred. Proof of name ID will be required.

Additional Information

If you have requested a LINK card it will be posted to you and should arrive within 5 days of you requesting it. Your Personal Identification Number (PIN) will be posted and should arrive 4 days after receipt of the card. If you do not receive your card or PIN, you must report this to us immediately.

We will generally communicate with you via email. It is very important that you notify us if your e-mail address changes. You can change your contact details (postal address, email and telephone number) when you are logged in. To change your name you will need to write, enclosing proof of the change, to Chelsea Building Society, Timbercombe House, Charlton Kings Business Park, Cirencester Road, Cheltenham, Gloucestershire, GL53 8DZ.


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How to apply

You can only apply online for the e-Saver – Issue 2, and there are no paper forms to complete and sign.


Complete our simple, straightforward online application form


If you feel you need additional support before applying for this account, please call us.

0345 744 6622*

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