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Chelsea BS launches fixed rate bonds

Chelsea Building Society is launching two new fixed rate bonds.

The one year fixed rate bond will feature an interest rate of 4.50 per cent for investments of £1000 and above fixed until November 2003. The Monthly rate will be 4.41 per cent.

The 2 year fixed rate bond pays a rate of 4.80 per cent for investments of £2500 and above fixed until November 18, 2004 with monthly income at 4.70 per cent.

Investors can make immediate withdrawals by cash or cheque, although this will incur 60 days loss of interest on the amount withdrawn.

Notice and penalty free withdrawals can be available from the 1 year fixed rate bond from November 18, 2003 and from the 2 year fixed rate bond from November 18, 2004.

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