|Balance in the account||% Gross(2)||%AERs(1)|
|£1 – £25,000||2.90%||2.90%|
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
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;
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 If this product is withdrawn no further deposits will be allowed into this account.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.
No withdrawals or closure are permitted until the child reaches 16 years of age, except in the event of the death of the account holder.
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.
On maturity 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.
The terms of the Young Chorleian Account are available in branch or at www.chorleybs.co.uk
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:
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.