Savings with a spring!

Chelsea Building Society is launching two new Spring Fixed Rate Bonds from Wednesday 23 April 2008.

The current 1 year (9th Issue) and 2 year (12th Issue) Fixed Rate Savings will be withdrawn at close of business on Tuesday 22 April 2008.

Annual interest is first paid on 1 May 2009 and annually thereafter. A monthly interest option is also available.

Withdrawals made before the end of the fixed rate period will be subject to a penalty equivalent to 180 days' loss of interest on the amount withdrawn. After the fixed rate period, immediate penalty free withdrawals are permitted. Withdrawals will affect the AER.

At the end of the fixed rate period, the funds in these accounts will transfer to Branch Instant, paying a lower rate of interest or alternatively offered a new fixed rate bond if Chelsea are able to at that time.

To find out more about Chelsea savings accounts or interest rates contact Chelsea at your local branch, visit thechelsea.co.uk.