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Chelsea releases fixed rate bond

Chelsea Building Society has announced the issue of its two year fixed rate bond for the 11th time, offering investors a guaranteed return on their investment until May 2004.

The product will pay a rate of 5 per cent on investments of £1,000 or above. Investors also have the option of choosing to receive monthly income at a rate of 4.89 per cent.

The minimum investment allowed is £1,000 and the maximum is £500,000.

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