Chelsea saving options ready for launch

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Chelsea saving options ready for launch

Tue 6th Mar 2007

Chelsea Building Society is set to roll out a series of new fixed-rate saving options for consumers.

As of tomorrow, the group will be offering a new one-year, two-year and ClicknSave fixed-rate option, replacing the previous Chelsea offerings.

Annual interest will be first paid on March 8th 2008, although consumers can choose to be paid interest in monthly instalments also.

During the fixed-rate period, consumers who make a withdrawal will face losing the equivalent of 90 days of interest on the amount withdrawn.

However, after the Chelsea fixed-rate saving options have expired, penalty-free withdrawals will be permissible.

Chelsea is the sixth largest building society in the UK with assets worth over £11 billion.

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