Newcastle Building Soc - New 5 year-5% BOND (Not an ISA) NOW CLOSED

malik999

Taken from the PDF speculator found:

"Access with 90 Days Notice with no loss of interest"

http://www.newcastle.co.uk/content/docs/2009-press/06-07-09.pdf

================================
Five Year Fixed Rate Bond (Issue 1)
 Five Year Fixed Rate Bond  5.00% Gross/AER (Annual Interest)  4.85% Gross/4.75% AER (Monthly Interest)  Access with 90 Days Notice with no loss of interest  Minimum/Maximum investment £5,000 - £500,000  Maturity date of 31 July 2014  Also available as an ISA  Opened via www.newcastle.co.uk, post or telephone
=================================

Thats good enough for me

Steve_xx

zzzLazyDaisy wrote: »

the MSE article

MSE people are not omniscient.

freddysmith

Maybe the MSE News Editor of this article could clarify on this forum the points raised.

SnowMan

There is no loss of 90 days interest.

The phone calls, emails and press release all confirm this.

http://www.newcastle.co.uk/content/docs/2009-press/29-06-09.pdf

"Both the bond and the ISA allow unlimited withdrawals (or transfers out) of funds at 90 days’ notice and without penalty.....................


Both accounts provide the flexibility of access with a notice period, should customer circumstances change, but we will continue to credit interest until the money actually leaves the account."

Can't get much clearer than that!!!!!!!!!


I've just rung them again and they again as expected have confirmed it.

Lorian

Steve_xx wrote: »

MSE people are not omniscient.

Indeed, but funny to go to the trouble of building a table of duff info.

Steve_xx

Lorian wrote: »

Indeed, but funny to go to the trouble of building a table of duff info.

The table produced there seems to have made something that is relatively simple into something immensley complex.

KingL

Steve_xx wrote: »

Where, on the Newcastle Building Society site, does it say that interest is not payable during the 90 day notice period?

Nowhere that I can see. It is written in the MSE article.

I was trying to add clarity to what the MSE article was saying. If the source info for the MSE article is wrong, then what I said was also wrong. Hopefully it is (wrong, that is)

Lorian

Steve_xx wrote: »

The table produced there seems to have made something that is relatively simple into something immensley complex.

And factually completely incorrect of course, unless they are referring to some yet-to-be released Issue 2 of this bond........

Ruy

Just a thought, but perhaps there is a 2nd ( replacement ) version of the account coming out tomorrow ( only online ) with different conditions?

Speculator

But if the article is refering to an issue 2 to be launched tomorrow, it won't last long.

The article also states...

But those who are keen must hurry as the account in question, the Newcastle Building Society five-year bond, is likely to be pulled on Tuesday evening or Wednesday morning.