5 Year Bond 4.40% AER - Allowing Penalty Free Withdrawals after 180 Days Notice @ Newcastle BS - HotUKDeals
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Newcastle BS have issued a Premier Bond (Issue 2) paying 4.40% AER which allows penalty free withdrawals after 180 days notice. Therefore this can effectively be used as a 6 month - 1 year 4.40% fixed rate bond (provided you give appropriate notice).

Product Special Conditions

The Newcastle's Savings General Terms & Conditions will apply unless they are inconsistent with these Special Conditions, effective from the date of the account opening.

1. The account is a fixed rate account.
2. The account can be operated in branch, by telephone, post or online.
3. The minimum investment in the account is £500 the maximum is £1,000,000.
4. The account can be held in single or joint names.
5. After placing your Investment in the account you may make further deposits while the account is a current issue. The account is a limited issue and may be withdrawn at any time.
6. Withdrawals are permitted subject to 180 days notice.
7. On maturity the account will automatically transfer to the Newcastle's maturity account. We will write to you prior to maturity to advise you of any amendments to the terms and conditions of your account. Following the day of maturity you have 28 days in which to withdraw funds penalty free, thereafter the Maturity Account Terms & Conditions will apply.
8. Interest is calculated daily and is paid annually or monthly.
9. Should the final day of a calendar month be a business day then any monthly interest paid to a third party will be paid on that day. Otherwise it will be paid on the following business day. Any final monthly interest due on maturity will be credited to the account.
10. Interest can be paid to your account, to another account with the Newcastle or to a third party bank or building society account.
11. Should the balance held in the account fall below the Minimum Balance stated above, interest will be paid at a rate of 0.10% Gross*/AER**
12. You will access your account in the same manner as you opened the account. For example if your Account is a passbook Account your Account will be operated by passbook.
13. Details are correct as at 31/03/2011.

Thanks to MSE Martin.
More From Newcastle Airport:

All Comments

(34) Jump to unreadPost a comment
Comments/page:
#2
thanks missed out on the Northern Rock one which was pulled pretty quickly......:3
#3
paw2304
thanks missed out on the Northern Rock one which was pulled pretty quickly......:3



Me too! NR opened the account and sent me details 7 days later and after the deadline for funding the account expired. Ridiculous! This gives you paying in details immediately so you can do the necessary. Fingers crossed!.
#4
looks good thanks op
#5
Good rate these days!!
#6
Effectively 4.4% for a year.
Heat added.
banned#7
Are Financial Services products allowed or even appropriate for this forum. Genuine question.
#8
Thanks, appreciate the information! :3
1 Like #9
Interest rates on savings accounts are ridiculous, try researching into FTSE100 companys and you could make a 10% gain within a few weeks!
3 Likes #10
Jelly Bean
Interest rates on savings accounts are ridiculous, try researching into FTSE100 companys and you could make a 10% gain within a few weeks!

Thats what i have done since 2008! now im rolling in it.. i have a fancy car ( datsun sunny...with sun roof) nice house (caravan) and a hot wife (miss afghanistan 1945)! But deal no good to me as i have £1,000,001 so just out of the threshold :(

All joking aside thats a great intrest rate to be paid. Just wondering whether a 5 year bold will yeild enough to make it a sensible option as the intrest rates are due to go up soon and will go up steep to not only curb inflation but bring everything back in to line.

Will probably put a small amount in and forget about it for 5 years.
7 Likes #11
Jelly Bean
Interest rates on savings accounts are ridiculous, try researching into FTSE100 companys and you could make a 10% gain within a few weeks!


your use of this site suggests that you don't know what you're talking about otherwise you'd be sitting on a tropical beach somewhere and not scratting around for a bargain.
#12
Nice!
#13
You may just have started something here.
Now lets see a million different savings deals appear every day.

Whilst i'm commenting, if you're a HSBC premier account holder their regular saver is offering 8% interest atm!
#14
Thanx heat added x
#15
Thanx heat added x
1 Like #16
Tinhead
Jelly Bean
Interest rates on savings accounts are ridiculous, try researching into FTSE100 companys and you could make a 10% gain within a few weeks!


your use of this site suggests that you don't know what you're talking about otherwise you'd be sitting on a tropical beach somewhere and not scratting around for a bargain.

i think hes reading this site via his brand new Iphone5 which he got as a result of investing with Apple along with other shares on the NYSE an FTSE. Some of the richest people in the world will hold out for a bargin so its not fair to say only the porr should be on here
#17
Hot. Took out a 5 year bond at 5% two years ago. Apparantly i can cash it in with 28 days notice.
Only drawback is they dont send an annual statement out and you cant check online.Of course this might have changed now.
#18
Hmm.

Does this suggest that a Bank of England interest rate rise is imminent?
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Edited By: rizla01 on Apr 20, 2011 10:12
#19
I saw this on the MSE newsletter and have signed up.

Even if we leave the money in the account for over a year, maybe even the full 5 years its still a great rate, right? Even ISA's are only 3.5% roughly.
#20
rizla01
Hmm.

Does this suggest that a Bank of England interest rate rise is imminent?
.
.
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i think thats the reason behind why they are giving such an atteactive offer. We all know the rates are due to rise soon, its just a matter of when.
#21
Just signed up for one. Included DD info for linked account. Fund from that will arrive on the 5th of May, but get a feeling this offer will close before that. Should I send a electronic BACS now with the application number as reference to guarantee that I get the funds in?
1 Like #22
kodbel
Just signed up for one. Included DD info for linked account. Fund from that will arrive on the 5th of May, but get a feeling this offer will close before that. Should I send a electronic BACS now with the application number as reference to guarantee that I get the funds in?


I'm going to do that. Although BACS still takes 3 days I think. The last Northern Rock deal posted by MSE closed on the day it was posted, ie 6th Apr, then you had till the 15th Apr to fund accounts, if you were lucky enough to receive your account details. This rate is even better so image it will be even more frantic!
#23
markwigg
You may just have started something here.
Now lets see a million different savings deals appear every day.

Whilst i'm commenting, if you're a HSBC premier account holder their regular saver is offering 8% interest atm!


But what is the maximum you can deposit each month for that?
#24
25
furbix
markwigg
You may just have started something here.
Now lets see a million different savings deals appear every day.

Whilst i'm commenting, if you're a HSBC premier account holder their regular saver is offering 8% interest atm!

But what is the maximum you can deposit each month for that?


£250, but you have to have atleast 50k in savings with HSBC to get such an attractive rate alternativly you wud have to sign up for their Advance a/c which cost 12.95 per month... still 8% on reg saving
#25
Monaco Blue
kodbel
Just signed up for one. Included DD info for linked account. Fund from that will arrive on the 5th of May, but get a feeling this offer will close before that. Should I send a electronic BACS now with the application number as reference to guarantee that I get the funds in?

I'm going to do that. Although BACS still takes 3 days I think. The last Northern Rock deal posted by MSE closed on the day it was posted, ie 6th Apr, then you had till the 15th Apr to fund accounts, if you were lucky enough to receive your account details. This rate is even better so image it will be even more frantic!

Thanks for that. Just hope that the fund send today don't go missing! Haven't transferred cash to a common account before - the reference number being the only identifier.
#26
This gives you paying in details immediately so you can do the necessary.


I just applied and the earliest date I could set to have funds put into this account (I linked it to my First Direct curretn account) was 5th May.
As the account is not confirmed until it is funded, they have the right to withdraw the offer.
I suppose you could get around this by funding the account in some way which transfers the money immediately.
#27
good deal
#28
Right, so having read others' thoughts about funding the account, I phoned my bank (First Direct) and asked to do a BACS (I could have done an immediate CHAPS, but that costs £25). He said that it would take 3 days to go through. However, when he executed the transfer, it went through under the Faster Payment System, thus funding the account today. This operator had previously spoken with a number of other FD customers wanting to take advantage of this deal who had done BACS transfers, but *none* of them had gone through under the FPS.
So, try doing a BACS (for the minimum amount of £500) and hope it goes through under FPS . . .
If you *really* want the deal, maybe risk using CHAPS and paying the £25 . . .
#29
5. After placing your Investment in the account you may make further deposits while the account is a current issue. The account is a limited issue and may be withdrawn at any time.


Does this mean that i can continue to add funds for the entire 5 years, or just until they stop offering this particular offer then whatever i have deposited will be all i can have in the account ?
#30
rspresearch

Does this mean that i can continue to add funds for the entire 5 years, or just until they stop offering this particular offer then whatever i have deposited will be all i can have in the account ?


Until the offer is fully subscribed.

Great deal - even better than the northern rock one!
#31
Just pulled the plug. After I had completed everything as well.!
#32
"Due to exceptional demand, this product has been withdrawn until further notice.

If you have already made an application, or opened an account you will be able to deposit funds in the usual manner."

From the second sentence, I interpret that for anyone who has made an application with a DD due to be taken on 5th May, that will go ahead and you will have a valid account. Let's hope so anyway.
#33
My BACS went through :-)
#34
toasted-lion
"Due to exceptional demand, this product has been withdrawn until further notice.

If you have already made an application, or opened an account you will be able to deposit funds in the usual manner."

From the second sentence, I interpret that for anyone who has made an application with a DD due to be taken on 5th May, that will go ahead and you will have a valid account. Let's hope so anyway.


5th of May (even with the non clearing Bank Holidays in between) is a long time away.... Personally, if I was serious about wanting to place funds I wouldn't leave it that long. If everyone is doing BACS/cheques (3-7ish days) it will become subscribed very quickly. NR opened an account for me with £0 but I received details after the last depositing day. Just my tuppence.

This seems a good way for the banks to pull in some quick cash. Perhaps another deal will pop up again soon.

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