The tenth issue of Chelsea Building Society's postal savings account ClicknSave will be available to savers from tomorrow.
Offering a fixed savings interest rate of 4.9 per cent gross per year until September 14th 2007, the savings account requires a minimum investment of £500.
Up to £500,000 could be held in the savings account, while savers have the option of taking interest on a monthly or yearly basis.
Should interest be taken every month, the gross savings interest rate is slightly lower, at a level of 4.79 per cent.
Application forms for the savings account are available from the savings provider's website, while the operation of the savings account is conducted exclusively through the post.
Withdrawals from the savings account made before the end of the fixed-rate term are subject to penalty charges of 90 days' loss of interest on the amount taken out of the savings account.
Immediate withdrawals without penalty charges are allowed after the initial savings term.
New savings account issue from Chelsea
New savings account issue from Chelsea
Fri, 10 Mar 2006
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