Chelsea option 'moves with base rate'

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Chelsea option 'moves with base rate'

Fri 11th May 2007

Chelsea Building Society has launched a new one-year fixed-rate option which is offering a gross annual rate of 6.20 per cent.

With Chelsea's current issue being withdrawn at the close of business today, the group's 28th issue will be introduced tomorrow.

While annual interest will be paid on May 1st 2008, a monthly withdrawal facility can be also be launched with the Chelsea Building Society option.

Once the fixed-rate period of the package has been completed, customers can make unlimited penalty-free withdrawals on their funds.

During the fixed-term, a penalty equivalent to 90 days of lost interest will be placed upon the issue.

To find out more about Chelsea Building Society accounts and other savings vehicles, local branches should be contacted.

Customers may also choose to visit the group's website or to call the one-year fixed-rate option information line.