New fixed-rate savings options with Chelsea

The Chelsea Building Society has launched a new range of fixed-rate savings options, including a one-year option allowing investments ranging from £1,000 to £500,000, with an annual equivalent rate (AER) of 5.25 per cent.

A two-year fixed-rate option is also open, with an AER of 5.35 per cent and permitted investment levels matching the one-year product. These two packages are fixed until December 4th 2007 and 2008 respectively.

Chelsea has also launched a ClicknSave product, which has a fixed AER of 5.3 per cent until June 3rd 2008.

This deal allows investments ranging from £500 to £500,000 and pays gross interest of 5.18 per cent on a monthly basis.

For customers who choose to receive annual interest on their fixed-rate bonds, payments will be made on September 1st 2007 and annually thereafter.

Immediate penalty-free withdrawals will be permitted on the accounts following the fixed-rate period.