Chelsea BS launch another new account

bristolleedsfan

:rotfl:

Double your reason to save at Chelsea
From Saturday 29 September 2007 there are twice as many reasons to open a savings account with Chelsea, the UK’s fifth largest building society.
Chelsea is launching a new competitive branch based account, Double Guarantee (2nd Issue) which offers not just one guarantee but two!


The account carries two guarantees:

Guarantee 1 – gross annual interest rate to be at least 0.25% above the Bank of England Base Rate up to and including 15 October 2008
Guarantee 2 – from 16 October 2008, gross annual rate to be at least the same as the Bank of England Base Rate up to and including 15 October 2009
From 16 October 2009, the interest rate will be guaranteed to be at least the same as our Branch Instant account.
First annual interest payment date is 1 October 2008 and annually thereafter. A monthly interest option is also available.

Key details of this account which is launched on 29 September 2007 are in the link attached at the end of this release

Withdrawals

During Guarantee 1 – From the date of account opening, up to and including 15 October 2008, penalty free withdrawals are subject to 80 days’ prior written notice.

Immediate withdrawals are subject to a penalty equivalent to 80 days’ interest on the amount withdrawn.

During Guarantee 2 – From 16 October 2008, up to and including 15 October 2009, penalty free withdrawals are subject to 40 days’ prior written notice.

Immediate withdrawals are subject to a penalty equivalent to 40 days’ interest on the amount withdrawn.

From 16 October 2009, all withdrawals are notice and penalty free.



http://www.thechelsea.co.uk/html/savings/invest_dg2_intro.html

kingkenny will explain what happens from 16th october 2009 onwards. :rotfl:

Chelsea also announces the withdrawal of its Bonus Savings account with effect from the close of business on Friday 28 September.

kingkenny will now explain what will happen to the bonus savings account now that its closed to new account openings. :rotfl:

http://www.thechelsea.co.uk/html/savings/invest_intrates_old_current.html#CBS

Special_Saver2

Just a quick note to add that this account is now paying a higher rate of 6.50% gross AER to all existing and new account holders from 27/10/07.

http://www.thechelsea.co.uk/html/savings/invest_dg2_intro.html