Branch Instant
Summary Box
Key product information for our savings account
| Account name | Branch Instant |
|---|---|
| Interest rates (AERs) | Annual |
| 1.45% gross pa+/AER* 1.16% net pa+ Variable interest rates effective from 24 November 2008 |
|
| Monthly | |
| 1.44% gross pa+ 1.15% net pa+ 1.45% AER* Variable interest rates effective from 24 November 2008 |
|
| Tax status | Interest is paid net of tax. However provided we receive a valid R85 form interest will be paid gross to non taxpayers |
| Conditions for bonus payment | Not applicable |
| Withdrawal arrangements | Instant, penalty free withdrawals++ |
| Access | Branch/post |
Key features
- Save from £1 up to a maximum of £500,000** per saver (maximum of 2 savers permitted)
- Interest will be earned from £1. It is paid annually on 1 November. Monthly interest also available
- Passbook operated
+Net interest equals gross interest less income tax at the rate specified by law.
*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added to the account each year. Withdrawals may affect the AER.
++Up to £500 cash or £5,000 cheque may be withdrawn immediately over the counter in a branch. Larger sums may be withdrawn by cheque in a few days.
**Provided that your total savings in this and all other Chelsea accounts does not exceed £2 million.
Chelsea Building Society subscribes to the Banking Code, a copy of which is available on request.
