Triple Guarantee (2nd Issue)


Summary box
Key product information for our savings account

Account name Triple Guarantee (2nd Issue)
Interest rates (AERs) Annual
4.20% gross pa+/AER*    3.36% net pa+

Variable interest rates effective from 24 November 2008. Guaranteed to be at least 0.50% above Base Rate until 16 March 2009 then guaranteed to be at least 0.25% above Base Rate until 18 March 2010 then guaranteed to be at least equal to Base Rate until 20 September 2010**
Monthly
4.12% gross pa+   3.30% net pa+   4.20% AER*

Variable interest rates effective from 24 November 2008. Guaranteed to be at least 0.50% above Base Rate until 16 March 2009 then guaranteed to be at least 0.25% above Base Rate until 18 March 2010 then guaranteed to be at least equal to Base Rate until 20 September 2010**
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

Penalty free withdrawals with 60 days' prior written notice until 16 March 2009, or immediate access subject to a penalty equivalent to 60 days' loss on interest on the amount withdrawn.
Then penalty free withdrawals with 30 days' prior written notice untill 18 March 2010 or immediate access subject to a penalty equivalent to 30 days' loss of interest on the amount withdrawn.
From 19 March 2010 all withdrawals are instant and penalty free++
Access Branch/post

Key features

  • To request an information pack call us on 0800 169 7755
  • From 21 September 2010, there will be no rate guarantee and the interest will be equal to that of our Branch Instant account
  • Save from £1 to £500,000** per saver (a maximum of 2 savers are permitted)
  • Interest will be earned from £1. It is paid annually on 1 August. 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.
** 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 before this date, we'll change the interest rate on the account where necessary (which could be up or down) within 30 days'
++ Up to £500 cash or £5,000 by cheque may be withdrawn immediately over the counter in a branch. Larger sums may be withdrawn by cheque in a few days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

Chelsea Building Society subscribes to the Banking Code, a copy of which is available on request.