Chelsea Building Society has launched a new range of fixed-rate savings accounts.
The company has created three new savings products, all of which became available on August 26th 2006.
Available in one-year and two-year options, all of the savings accounts will pay interest on September 1st 2007 and annually until the end of the term.
The one-year savings account has a minimum investment of £1,000, rising to a maximum of £500,000, with a gross AER of 5.25 per cent.
With the same boundaries on maximum and minimum investments, the two-year option has an AER of 5.35 per cent, while another savings account is available with a minimum investment of £500, although this has a slightly lower AER at 5.30 per cent.
Monthly interest options are available for customers who require them, while penalty-free, immediate withdrawals are available after the fixed-rate period.
However, withdrawals made before the end of the period are subject to a penalty of 90 days lost interest.
Chelsea states that it is the UK's sixth largest building society, with assets in excess of £9.7 billion.
Chelsea introduces fixed-rate savings
Chelsea introduces fixed-rate savings
Tue, 29 Aug 2006
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