Chelsea launches new one year Fixed Rate Option

Chelsea Building Society has launched a new one year Fixed Rate Option effective from Saturday 12 May 2007.

The current 1 year Fixed Rate Option (27th Issue) will be withdrawn at close of business on Friday 11 May 2007.

Annual interest is first paid on 1 May 2008 and annually thereafter. A monthly interest option is also available if required.

Withdrawals made before the end of the fixed rate period will be subject to a penalty equivalent to 90 days’ loss of interest on the amount withdrawn.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.