Chelsea rate rises to 9%

THE BEST building society rate in the market is the 9 per cent gross being offered on the eighth issue of the Chelsea's Premier Account.

The 9 per cent rate is available on deposits of pounds 10,000 or more and is guaranteed until October. Deposits between pounds 10,000 and pounds 5,000 - the minimum investment - attract 8.5 per cent.

Withdrawals require 30 days' notice and, until October 1995, will also incur 45 days' loss of interest.

Scarborough Building Society has just reduced its 90-day notice account rates. But it continues to be the leader in this sector of the market.

Rates range between 6.31 per cent gross on pounds 500 deposits and 7.91 per cent on pounds 50,000 deposits.