Fab at 50!

28 May 2008

Chelsea, the UK's fifth largest building society, announces the launch of Call Direct 50 on Saturday 31 May 2008.

Key details of this account are as follows:

Account name Minimum opening investment   Annual rates Monthly rates AER2
Gross pa1 Net pa1 Gross pa1 Net pa1

Call Direct 50

£250
(max £500,000)3

 6.30% 5.04% 6.13% 4.90% 6.30%

The interest rate is guaranteed to be at least 0.50% above the Bank of England Base Rate until 4 August 2009. After this date the interest rate is guaranteed to be at least the same as the Bank of England Base Rate until 2 March 2010.

Up to and including 2 March 2010 withdrawals5 can be made penalty free with 50 days' prior notice. Within this period, notice free withdrawals are subject to a penalty equivalent to 50 days' interest on the amount withdrawn. From 3 March 2010, all withdrawals will be notice and penalty free and the account will become Call Direct Advantage.

First annual interest payment date is 1 June 2009, then annually thereafter.

To find out more about Call Direct 50, visit us at your local Chelsea branch or call the savings information line on 0800 121 8822 4.

Notes
  1. Gross pa/Net pa: Net interest equals gross interest less income tax at the rate specified by law
  2. AER: AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year. Withdrawals may affect the AER
  3. Provided that the account holder's total investment in the Chelsea does not exceed £2 million
  4. This is an automated line
  5. Withdrawals are subject to daily limits - you can normally withdraw up to £250 in cash or £5,000 by cheque on demand. Larger sums by cheque may be withdrawn in a few days
  6. Chelsea is the 5th largest building society with assets of £13bn

For more information contact Vicki O'Connell on 01242 271466 or Susie Ratcliffe on 01242 271332

This page must be read in conjunction with the Information for Chelsea savers page.