Chelsea Building Society lowers investment interest rates

24 August 2005
In the wake of this month's base rate decrease, Chelsea Building Society (CBS) has lowered some interest rates payable on investment and savings accounts.

From August 25th, a range of savings and investments at CBS will carry rates reduced by at least 0.25 per cent, the building society has revealed.

Accounts affected include Call-Direct Advantage, the Classic Account, the Instant Option account, the mini cash ISA and the Portfolio Extra Account.

The Simply Seven, Regular Savings, Rainy Day Savings and Ready Steady Save accounts will all also carry reduced rates.

CBS' rate reductions follow the decision by the Bank of England (BoE)'s Monetary Policy Committee (MPC) to reduce the base rate by 0.25 per cent to 4.5 per cent, the first alteration to the base rate in a year.

To read more about savings accounts, click here.

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