Classic Account
Summary box
Key product information for our savings account
Key product information for our savings account
| Account name | Classic Account |
|---|---|
| Interest rates (AERs) | Annual |
| £2,500 plus - 1.20% gross pa+/AER* 0.96% net pa+ 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 | This account can only be opened and operated by post to our Head Office |
Key features
- Tiered interest rate structure, so the more you save the more you earn
- Withdraw cash at LINK ATMs using a Chelsea card (maximum withdrawal £200 per day)†
- Receive monthly statements to keep you up to date
- Save from £2,500 up to a maximum of £250,000** per saver (a maximum of two savers are permitted)
- Interest will be earned from £2,500. It is paid annually on 10 March
+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
**Provided that your total savings in this and all other Chelsea accounts does not exceed £2 million
†Chelsea does not charge for cash withdrawals
Chelsea Building Society subscribes to the Banking Code, a copy of which is available on request.
