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FIXED RATE EBOND

Open this Fixed Rate eBond online

 

Lock your money away in this limited-offer Fixed Rate eBond to earn a fixed rate of interest until 31 December 2019.

 

Key Features

  • Save from £1,000 up to £2 million
  • Pays a fixed rate of interest
  • Choose to have your interest paid monthly or annually
  • Withdrawals and closure are not permitted during the term
  • No cancellation rights
  • You want an account you can open and manage online

1.50%

gross† p.a./AER* fixed** until 31/12/2019

Summary Box

Account Name Fixed Rate eBond (No Access) until 31 December 2019
What is the interest rate?

Current rates - Effective 22 November 2018

This product pays a fixed rate of interest of:

Annual

Gross† p.a. AER*
1.50% 1.50%

Monthly

Gross† p.a. AER*
1.49% 1.50%

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.

** Fixed rate of interest means that the interest rate payable on your account will remain the same from the time you open your account until the end of the fixed rate period.

Payment of interest

  • Interest is calculated daily on cleared balances
  • Annual interest is paid on 31 December 2019. It can be paid into the Fixed Rate eBond 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 paid into another Chelsea Building Society account or another building society or bank account.

Can Chelsea Building Society change the interest rate?

No, the interest rate is fixed until 31 December 2019.

What would the estimated balance be at the end of the full term based on a £1,000 deposit?

At the end of the fixed term on 31 December 2019 your balance would be £1,016.64.

We have worked this out assuming a £1,000 deposit is made on account opening on the first day the product goes on sale, interest earned is added to the account and no further deposits or withdrawals are made throughout the fixed term.

This projection 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 (for under 16s account to be opened in trust) and a UK resident to open the account. The account can be held on your own, jointly with someone else or in trust.

Account opening and management
Accounts can be opened online here with a minimum of £1,000.

You can add to the eBond while it is still available to new investors. Once the eBond is closed to new investors, no additional deposits are allowed.

The account can be managed online.You will be able to check your balance and view deposit transactions on your account online whenever you wish.

The maximum balance is £2,000,000

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
Withdrawals or closure are not permitted during the term other than circumstances covered under the Savings Pledges 2018  for account holder(s) or their immediate family members - critical or terminal illness, death, redundancy, nursing home or elderly care costs, divorce or court order. In these circumstances only, the balance and the interest to date of early closure will be paid.

Maturity
This Fixed Rate eBond will mature into a Fixed Rate Access eBond. At maturity and during the first month after maturity you will be able to withdraw all or part of your savings and have full access to them without incurring any loss of interest. Thereafter, you will continue to have access to your savings but this will be subject to a number of days’ loss of interest on the amount of savings withdrawn. We will send to you by post full details of the new Fixed Rate Access eBond at least 14 days prior to the maturity of this Fixed Rate eBond.

Additional Information

We will advise you of the forthcoming product maturity, 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 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 this Fixed Rate eBond , 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*