Chelsea launches new range of Fixed Rate Options

The range includes a new 1 Year, 2 Year and ClicknSave Fixed Rate Option effective from Wednesday 7 March 2007.

The current 1 Year Fixed Rate Option (25th Issue), 2 Year Fixed Rate Option (25th Issue), 3 Year Fixed Rate Option (12th Issue), 4 Year Fixed Rate Option (2nd Issue), 5 Year Fixed Rate Option (1st Issue) and ClicknSave Fixed Rate Option (14th Issue) are being withdrawn at close of business on Tuesday 6 March 2007.

For all options, annual interest is first paid on 1 March 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the end of each fixed rate period will be subject to a penalty equivalent to 90 days’ loss of interest on the amount withdrawn.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.