Money News
Chelsea Building Society has launched a new 1 year Fixed Rate Option bond - effective from May 12th 2007. And paying 6.20% gross pa, 4.96% net pa. Corresponding monthly rates are 6.03% and 4.82%.
Annual interest is first paid on May 1st 2008 and annually thereafter.
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the end of the fixed rate period will be subject to a penalty equivalent to 90 days' loss of interest on the amount withdrawn.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 allowed. But they are subject to daily limits - you can normally withdraw up to £250 in cash or £5,000 by cheque on demand. Larger sums by cheque may be withdrawn in a few days.
Minimum investment is £1,000, maximum £500,000.
11 May 2007 © Moneyextra.com
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