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E-Saver Plus

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** tiered†† rate of interest for 12 months then matures into e-Saver
  • Interest paid annually
  • Manage your account online

0.40%

gross p.a./AER variable
on balances £1-£999

TO

1.35%

gross p.a./AER variable
on balances £50,000+

Summary Box

Account Name e-Saver Plus
What is the interest rate?

Current rates - Effective 31 May 2019

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

Annual Interest

Minimum Balance Gross† p.a. AER*
£1+ 0.40% 0.40%
£1,000+ 0.95% 0.95%
£10,000+ 1.15% 1.15%
£50,000+ 1.35% 1.35%

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.

†† Tiered pays interest at different rates as the account balance increases or decreases

* 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.
  • The rate of interest on this account is tiered. You earn one rate of interest based on the tier your balance falls in.
  • Annual interest is paid on the anniversary of account opening. It can be paid into the e-Saver Plus account, 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 (257 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 £500 deposit?

After 12 months your balance would be £502.00

We have worked this out assuming a £500 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.

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

After 12 months your balance would be £1009.50

We have worked this out assuming a £1000 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.

What would be the estimated balance after 12 months based on a £10,000 deposit?

After 12 months your balance would be £10,115.00

We have worked this out assuming a £10,000 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.

What would be the estimated balance after 12 months based on a £50,000 deposit?

After 12 months your balance would be £50,675.00

We have worked this out assuming a £50,000 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?

Eligibility
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?

Withdrawals
The e-Saver Plus 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.

You can withdraw between £10 and £500 per day or undertake up to 5 withdrawals within these limits per day from Yorkshire Building Society ATMs. Limits from other LINK machines may vary.

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.

Maturity
On the first anniversary of your account opening your savings will be transferred to the latest issue of e-Saver account.

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, Yorkshire House, Yorkshire Drive, Bradford BD5 8LJ.

 

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How to apply

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

Apply

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*