Chelsea Building Society has launched a new savings option designed to provide guaranteed growth for its customers.
The company claims that its new offering gives savers the assurances that the rate of interest will be at least 0.25 per cent above the base rate set by the Bank of England until October 15th 2008.
In addition, the second guarantee is that the gross annual rate of interest will at least match the Bank of England's rate until October 16th 2009.
However, those with more savings tucked away than most should note that the offers are only available if the money stashed within does not exceed £2 million.
Chelsea Building Society commented: "From Saturday September 29th 2007 there are twice as many reasons to open a savings account with Chelsea, the UK’s fifth largest building society."
Daily withdrawal limits on the savings vehicle are set at £250 cash or £5,000 cheque on demand.
According to the society, its Call Direct 30 savings account is currently featuring in best buy tables, enabling up to £250,000 to be squirreled away.
New savings vehicle from Chelsea
New savings vehicle from Chelsea
Mon, 01 Oct 2007
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