Over 60’s Account – Issue 3

Summary Box

Balance in the account % Gross(2) %AERs(1)
£1 – £84,999.99 0.25% 0.25%
£85,000 – £169,999.99 0.40% 0.40%
£170,000 – £500,000 0.50% 0.50%

Interest is calculated on a daily basis and paid annually on 31st December. Please refer to section 7 of the Savings Account General Terms and Conditions for further information on this.

The annual interest will be paid directly into this account with the Society.

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

This account has a variable rate of interest and is subject to changes; this means we may increase or decrease interest rates at any time; if we reduce the interest rate we will give you 14 days notification prior to the change and 30 day option from the notification to switch or close your account.

Please refer to section 7 of the Savings Accounts 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 you would have £1,002.50.

This figure is for illustration purposes and is based on no additional deposits, withdrawals or changes in interest rate within the 12 month period.

  • Available to eligible UK residents aged 60 or over at the time we receive your application
  • Only one Over 60’s Account is permitted per customer
  • To open an account you will need to apply in branch or by post and let us have;
    • a fully completed Share Account application form;
    • at least the minimum deposit of £1; and
    • proof of your identity, address and residency
  • The maximum deposit and total account balance is £500,000
  • This is a limited issue and the Society reserves the right to withdraw this product without notice at any time.
  • The Society’s products can be opened online, in branch or by post and managed in branch or by post. 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). Withdrawal conditions apply; please refer to section 9 of the Savings Accounts General Terms and Conditions for further details.

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 3312 or visit https://www.gov.uk/government/publications/income-tax-personal-savings-allowance

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

Please also refer to our Identification Criteria in case we need to request more information from you

If applying by post, please ensure you print and sign before returning your application to the following address:

Savings & Investment Department
Chorley Building Society
Key House
Foxhole Road
Chorley
Lancashire
PR7 1NZ

Got an Enquiry? 01257 235003
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    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.