Interest is calculated on a daily basis and paid annually on 31st December. The annual interest will be paid directly into this account with the Society.

Please refer to section 7 of the Savings Account General Terms and Conditions for further information on this. 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

1. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
2. Gross – The gross rate of interest is the interest rate payable before any income tax is deducted (if you do pay tax).

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 this.

Based on the current rate of interest, if you deposited £1,000 in this account, after 12 months your estimated balance would be £1,029.00.

This projection is for illustration purposes only and does not take into account your individual circumstances. The projection is based on no additional deposits, withdrawals or changes in the interest rate within the 12 month period.ly and does not take into account your individual circumstances. The projection is based on no additional deposits, withdrawals or changes in the interest rate within 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;

• a fully completed Share Application Form;
• at least the minimum deposit of £1; and
• proof of identity, address and residency for the account holder and where applicable the account operator

The maximum deposit and total account balance allowed is £25,000.

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.

Transfer of funds from existing Chorley Building Society accounts are not permitted.

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 account permits 2 withdrawals per year, without loss of interest or a penalty, including closure.
• Interest is paid annually on the 31st of December. The annual interest can be withdrawn, and this does not count as one of the 2 withdrawals.
• The account will mature on the child’s 16th birthday, with the balance becoming available on the next working day.  If you take no action on maturity, the balance will be automatically transferred into an easy access Young Chorleian Account, in the child’s name. The terms of the easy access Young Chorleian Account are available in branch or at chorleybs.co.uk/savings.
• We will contact you at least 14 days prior to maturity to advise you of your options available at that time.
• Withdrawals can be made by cash, cheque or CHAPs* (*subject to a £25 fee). Cheques requested by post or online for withdrawals or closures will be issued within 48 hours of receipt and posted 1st class to the account holder.

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-freeinterest-on-savings

Before applying for any of the above accounts please ensure you read and understand the following:

• The Summary Box of the account you are applying for (featured above) or download the pdf here
• Savings Accounts Terms and Conditions
• Tariff of Fees and Charges
• FSCS Information Sheet and Exclusions List

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
Key House
Foxhole Road
Chorley
Lancashire
PR7 1NZ