Chelsea launches new fixed rate ISA

Chelsea Building Society has launched a competitive fixed rate ISA allowing customers to make the most of their savings.

Offering a competitive return of 3.30% AER the new ISA rate, fixed until 31st December 2012, will be available in branch and via their telephone and online channels.  

Commenting on the launch of the new ISA, Product Manager Lynne Pepper said: "With the Bank of England base rate remaining at 0.5% for 31 consecutive months, savers are feeling the effects of the current financial crisis and are understandably frustrated. 

"We hope the launch of this competitive new product will act as a boost to savers, encouraging them to invest. Additionally, we only need an opening balance of just £100, which will help savers who have limited funds to invest."

A monthly interest option of 3.25% (3.30% AER) is also available for those who rely on their savings for income.

The new ISA will be available from 11th October 2011.

For more information or to open an account, visit thechelsea.co.uk.