Chelsea launches new range of Fixed Rate Options

Chelsea Building Society has launched a new range of Fixed Rate Options.

The range includes a new 1 Year, 2 Year, 3 Year, 4 Year and for the first time, a 5 Year Fixed Rate Option effective from Saturday 17 February 2007.

The current 1 Year Fixed Rate Option (24th Issue) and 2 Year Fixed Rate Option (24th Issue) are being withdrawn at close of business on Friday 16 February 2007.

For all options, annual interest is first paid on 1 February 2008 and annually thereafter. A monthly interest option is also available if required.

Withdrawals made before the end of each Fixed Rate period will be subject to a penalty equivalent to 90 days loss of interest on the amount withdrawn. After the Fixed Rate period, immediate penalty free withdrawals are permitted.