| Minimum balance in the account | % Gross(2) | %AERs(1) |
| £25+ | 5.15% | 5.15% |
Interest is calculated on a daily basis and paid on the maturity of the account 31.03.2025.
At maturity your account will revert to our easy access Chorleian Account or, if chosen, your balance plus interest will be paid by BACS to your nominated bank account.
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
(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 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. Please refer to section 7 of the Savings Account Terms and Conditions for details for further information on this.
Based on the current rate of interest, if you deposited £300.00 per month in this account, at the end of the fixed term period your estimated balance would be £3,700.19. This figure is for illustration purposes and is based on no withdrawals or changes in interest rate within the 12 month period.
To be eligible:
To open this account you will need to complete a Regular Saver Application Form.
This product can be opened and managed in branch and by post and can be opened and viewed via Chorley Online. Please refer to the Society’s Savings Accounts General Terms and Chorley Online Terms and Conditions.
Currently all of our accounts are operated via an account passbook.
Partial withdrawals are not permitted, however, you can close your account within the 12 month fixed term period.
The account will mature on the 31st March 2025. The account balance will then be available on the next working day. ‘Working day’ means a day other than a Saturday, Sunday or Bank Holidays.
We will contact you at least 14 days prior to maturity to advise you of the maturity date and provide options available at that time.
You can opt to have your balance plus interest paid to your nominated bank account by BACs, which will be paid at maturity. (Please note BACs can take up to 5 working days).
If you take no action on maturity the balance will be automatically transferred into an easy access Chorleian Account within the Society bearing the account holder’s name. Please refer to the Society’s Savings Accounts General Terms and Conditions for further detail.
Withdrawal conditions apply; please refer to section 9 of the Savings Account Terms and Conditions and section 7 of the Chorley Online Terms and Conditions for further details. The terms of the Chorleian Account are available in branch or at www.chorleybs.co.uk/savings.
Internal transfers from other Chorley Building Society accounts are not allowed.
This is a limited issue and the Society reserves the right to withdraw this product without notice at any time.
Whether you need to pay tax is dependent on your own personal circumstances and may be subject to change in the future. 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 our savings 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
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.
T
he Chorley and District Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered on the Financial Services Register under number 206023. Registered Office: Key House, Foxhole Road, Chorley, Lancashire PR7 1NZ.
Chorley and District Building Society is a member of the Building Societies Association and a participant of the Financial Ombudsman Service and Financial Services Compensation Scheme.
Your telephone conversations with the Society may be recorded. This is to help the Society to improve customer service and to offer additional security. Calls and electronic communications may also be monitored for staff training.