Chelsea fixed rate savings accounts launched

Chelsea Building Society has launched its latest range of fixed rate options for its savings accounts, which include a one and two year deal.

Both the Chelsea fixed rate options come with an annual rate of 4.5 per cent, and a minimum investment of £1,000.

The maximum investment for both stands at £500,000.

Customers will receive their interest on December 1st 2006, and annually thereafter, but for those wishing to receive interest monthly, this option is also available.

Furthermore, there is a withdrawal penalty equivalent to 90 days loss of interest for all withdrawals made before the end of the fixed rate period.

All rates stay fixed until November 28th 2006.