Chelsea Building Society launches new 6.4% savings account

Saturday, 09 August 2008 12:08

Chelsea Building Society is launching a new branch-based savings account offering 6.4 per cent gross pa.

The Triple Guarantee offers a rate at least 0.5 per cent over the Bank of England base rate to March 2009, then 0.25 per cent over the base rate until March 2010 and then base rate until September 2010.

Initially 60 days' notice is required for withdrawals, or the loss of 60 days' interest is incurred. Although the notice period is lowered as the interest rate declines.

The account is open to balance up to £500,000 and interest is paid either annually or monthly.

Chelsea is opening the account from August 9th.

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