Chelsea launches Postal Fixed Rate Cash ISA

Chelsea, the UK's sixth largest building society, has launched a new Chelsea Postal Fixed Rate Cash ISA. The account complements Chelsea's existing ISA offering. Chelsea already offers two other ISAs: Postal 30 Cash ISA and Chelsea Branch Instant Cash ISA.

The account can be opened by branch or post. Once opened, it can be operated by post only. As the minimum opening deposit for this ISA is £3,600 - the limit for a single tax year - no further deposits can be made within the year that the account is opened.

The total opening deposit must be £3,600 unless funds are transferred in from another ISA manager or from an existing Chelsea Cash ISA, in which case the total opening balance must be £3,600 or more. The interest earning balance is £1.

"In the current market we understand that customers find fixed interest an attractive option, and we're delighted to be able to offer this addition to our ISA range," said Kerri Morgan, Chelsea's Product Marketing Manager.

More information about these accounts can be found at thechelsea.co.uk/savings