Chelsea Building Society has claimed that changes to its savings range will make the products more popular.
The society has boosted the rates of its Double Guarantee savings accounts by 0.1 per cent. This places them at a total interest level of 5.5 per cent - which it describes as "whopping".
In addition the rate advertised, Chelsea savings customers who take out the account will be provided with two guarantees.
One of these is that the level of interests on the savings will be at least 0.25 per cent above the Bank of England's base rate until October 15th 2008. The other is that it cannot fall below the base rate for one further year.
The company announced: "From Saturday October 27th 2007 there is even more reason to open a savings account with Chelsea."
"The account which offers not just one guarantee but two has just got better."
Although it shares its name with a one of the biggest football clubs in England, Chelsea Building Society actually provides support for the Rugby Football Union, donating one per cent of all money saved to the organisation.
Chelsea lauds savings boost
Chelsea lauds savings boost
Fri, 26 Oct 2007
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