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Interest is calculated on a daily basis and paid annually on 31st May. The annual interest will be paid directly into this account with the Society.
Please refer to section 7 of the Savings Accounts General Terms and Conditions for further information on how we calculate interest.
Details of our full range of products and current interest rates are available on request at our branches, by telephone 01257 235003 or from our website www.chorleybs.co.uk/savings
Interest Rate Definitions
This account has a variable rate of interest and is subject to change; this means we may increase or decrease interest rates at any time. If we reduce the interest rate and you have at least £100 in your account, we will give you 14 days notification prior to the change and you will have a period of 30 days from the date of the notification to switch or close your account.
Please refer to section 7 of the Savings Account General Terms and Conditions for further information on how and why we may change the interest rate.
Based on an opening date of 1st June at the current rate of interest, if you deposited £150 per month in this account, after 12 months you would have £1814.57.
This projection is provided for illustrative purposes only and does not take into account your individual circumstances. This assumes that an initial investment of £150 is made on 1st June, additional investments of £150 are made on the 1st day of subsequent months, and that no withdrawals or changes in interest rate are made during the 12 month period.
Available to eligible UK residents up to the age of 16 only.
Account holders under the age of 7 years must have their account operated for them by an adult aged over 18 who will be called the ‘Young Savers Account Operator’. At the age of 7 years, an account holder can operate the account.
To open an account you will need to apply in branch or by post and let us have;
The maximum monthly deposit is £150 per month, backdated monthly deposits are not allowed.
The maximum balance is £500,000 and the overall maximum holding by any one person in respect of all savings accounts with the Society is £500,000.
Transfers in from other Chorley Building Society Accounts are permitted.
This is a limited issue and the Society reserves the right to withdraw this product without notice at any time. If this product is withdrawn no further deposits will be allowed into this account.
Only one Children’s Regular Saver account per customer can be held.
This product can be opened and managed in branch, by post, and via Chorley Online where you are able to view transactions, check your balance and check interest rates. Please refer to the Society’s Savings Accounts General Terms and Conditions.
This is an easy access account and you may withdraw by cash, cheque or CHAPS* (*subject to a £25 fee). Cheques requested by post for withdrawals or closures will be issued within 48 hours of receipt and posted 1st class.
Withdrawal conditions apply, please refer to section 9 of the Savings Account General Terms and Conditions for further details.
The account will mature on the child’s 16th birthday. The account balance will then be available on the next working day. ‘Working day’ means a day other than a Saturday, Sunday or Bank Holiday. We will contact you at least 14 days prior to maturity to advise you of the options available at that time.
If you take no action on maturity, the balance will be automatically transferred into an easy access Young Chorleian Account within the Society bearing the account holder’s name. The terms of the easy access Young Chorleian Account are available in branch or at www.chorleybs.co.uk/savings.
Whether you need to pay tax is dependent on your own personal circumstances and may be subject to change in the future. Interest is paid gross on all our savings accounts – except ISAs where it is paid tax-free. For more information on Tax Allowances please call HMRC on 0300 200 3300 or visit https://www.gov.uk/apply-tax-free-interest-on-savings
Before applying for any of the above accounts please ensure you read and understand the following:
All applicants must sign and return the application form.
Please also refer to our Identification Criteria in case we need to request more information from you
Please return your application to the following address:
Savings & Investment Department
Chorley Building Society
The Society will collect your email address as an alternative means of communication if we cannot reach you via telephone. This data will not be used for any other purpose.