Chelsea Building Society has launched a new savings account that offers an initial savings interest rate of 5.1 per cent gross a year.
Fixed until June 21st 2006, the savings interest rate on the Chelsea Postsaver 90 savings account will then revert to a tracker interest rate.
It is guaranteed to be set at a tracker savings interest rate that will be at least 0.25 per cent above the Bank of England's base rate from June 22nd 2006 to July 4th 2007.
The postal savings account has been described as offering an initial savings interest rate that is "attractive", as well as a "great rate guarantee" following the fixed-rate period.
Investment marketing manager at Chelsea Kerri Morgan adds that the savings account offers convenient operation by post.
She says the Chelsea Postsaver 90 savings account offers "an ideal home for your savings".
A minimum deposit of £500 is required to open the savings account and up to £50,000 per investor could be held in the savings account.
New postal savings account offered
New postal savings account offered
Mon, 20 Feb 2006
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