Tracker Bond (1st Issue)
Summary box
Key product information for our savings account
| Account name | Tracker Bond (1st Issue) |
|---|---|
| Interest rates (AERs) | Annual |
| 4.60% gross pa+/AER* 3.68% net pa+
Variable interest rates effective from 24 November 2008. Guaranteed to be at least Base Rate plus an additional 1.60% gross pa+ until 17 March 2010† |
|
| Monthly | |
| 4.51% gross pa+ 3.61% net pa+ 4.60% AER*
Variable interest rates effective from 24 November 2008. Guaranteed to be at least Base Rate plus an additional 1.60% gross pa+ until 17 March 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| Withdrawal arrangements | A withdrawal penalty equivalent to 30 days loss of interest on the amount withdrawn applies from the day the account is opened up to and including 17 March 2010++ |
| Access | Branch/post |
Key features
- To request an information pack call us on 0800 678 3885
- Once this account has been withdrawn to new savers, you cannot make further deposits
- From 18 March 2010, this account will become Branch Instant (which is a variable instant access account) and all withdrawals will be penalty free. Alternatively, we may offer you another Tracker Bond
- Save from £2,000 to £500,000** per saver (a maximum of 2 savers are permitted)
- Interest will be earned from £2,000. It is paid annually on 1 September. Monthly interest also available
+ 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
++ For more information about the penalty and the term, please refer to the terms and conditions. Up to £500 cash or £5,000 by cheque may be withdrawn immediately over the counter in a branch. Larger sums may be withdrawn by cheque in a few days
Chelsea Building Society subscribes to the Banking Code, a copy of which is available on request.
