Chelsea Building Society is planning to increase the rate on its competitive branch based account, Double Guarantee by 0.10% to a variable 6.50%.
The new rates will be available from October 27, 2007. The Double Guarantee will provide at least 0.25% above the Bank of England base rate until October 15, 2008. From October 16, 2008, the interest rate is guaranteed to be at least the same as the Bank of England base rate up to and including October 15, 2009.
First annual interest payment date is October 1, 2008 and annually thereafter. A monthly interest option is also available.