Chelsea BS has extended its portfolio of instant access products, which pays one of the top paying rates in its field.
The Rainy Day Savings 4th Issue is a branch based instant access account with a minimum investment of £10K paying 3.25% yearly (3.20% monthly)
The rates include a 1.50% bonus for 12 months. Withdrawals are permitted penalty free up to £5K, minimum £500, in first year then further withdrawals are charged at £25.
If the operating balance falls below £10K, 0.50% is paid and all withdrawals are fee free. While investors will need to deposit a high amount for this product, the reward is a highly competitive rate.
Account holders will need to stick to the terms and conditions of the account to fully benefit and would be well advised to assess the rate after the 12 month bonus period ends.
The Rainy Day Savings is well worth four out of five Moneyfacts stars.
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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