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Chelsea launches new bond

Chelsea Building Society is to launch the third issue of the Chelsea Guaranteed Bond, its branch based investment account, on December 8.

The product guarantees to offer a rate, which will fall no lower than the Bank of England base rate before July 1, 2003.

Other features of the new product are a current gross AER of 4.25 per cent for investments of £2,500 or above, a monthly income option with rates currently of 4.17 per cent and penalty free withdrawals with 60 days&#39 notice before July 1, 2003.

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