|Balance in the account||% Gross(2)||%AERs(1)|
|£1 – £500,000||0.55||0.55|
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 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. The terms of the Young Chorleian Issue 2 are available in branch or at www.chorleybs.co.uk/savings
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 the current rate of interest, if you deposited £1,000 in this account, after 12 months you would have £1,005.50.
This figure is for illustration purposes and is based on no additional deposits, withdrawals or changes in interest rate within the 12 month period.
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 Account General Terms and Conditions for further details.
The account will mature on the account holder’s 21st birthday (or the next working day if this falls on a Saturday, Sunday or Bank Holiday). 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. We will contact you at least 14 days prior to maturity to advise you of the options available at that time. On maturity you may withdraw by cash, cheque or CHAPs* (*subject to a £25 fee). Cheques will be issued within 48 hours of maturity and posted 1st class to the account holder.
The terms of the easy access 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-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.