Exclusive Savings
Key product information for our savings account
| Account name | Exclusive Savings |
|---|---|
| Interest rates (AERs) | Annual |
| 3.00% gross pa+/AER* 2.40% net pa+ Variable interest rates effective from 24 November 2008 Guaranteed to be at least equal to Base Rate† |
|
| Monthly | |
| 2.96% gross pa+ 2.37% net pa+ 3.00% AER* Variable interest rates effective from 24 November 2008 Guaranteed to be at least equal to Base Rate† |
|
| 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 | Withdrawals other than to another Chelsea account subject to 40 days' prior notice or a penalty equivalent to 40 days' loss of interest on the amount withdrawn++ |
| Access | Branch/post |
Key features
- Exclusively available to existing customers
- Penalty and notice free access when transferring to another Chelsea account
- Guarantee reviewed annually on 1 October#
- Save from £250 to £1,000,000** per saver (maximum of 2 savers are permitted)
- Interest will be earned from £250. It is paid annually on 1 October. 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++ Up to £500 cash or £5,000 by cheque may be withdrawn immediately over the counter in a branch. Larger sums may be withdrawn by cheque in a few days.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.
†If the Bank of England Base Rate changes, we´ll change the interest rate on the account where necessary (which could be up or down) within 30 days.
# If we decide to change the guarantee for any reason we will tell you. The guarantee is reviewed annually on 1 October.
Chelsea Building Society subscribes to the Banking Code, a copy of which is available on request.
