Chelsea triple guarantee savings account withdrawn

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Chelsea triple guarantee savings account withdrawn

Chelsea Building Society announced today that it will withdraw its Chelsea triple guarantee savings account.

The withdrawal will be effective from the close of business on Wednesday, August 10th.

The account offered customers a variable rate of interest and incorporated three consecutive guarantees. One of these stated that the interest rate would be at least 0.5 per cent above the Bank of England (BoE) base rate until January 10th 2006.

However, since the withdrawal, Chelsea Building Society has given no reason for its decision and no further information regarding the action is available.

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