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

zzzLazyDaisy

I can't comment on Barclays, but I know others have had the problem with internet transfers/fp being limited to £10k (including me).

I and others have got round it by making individual £10k transfers over a period of days. However IF the account is to be pulled today that doesn't help you much.

One suggestion might be to send a cheque for the balance, following the instructions in your confirmation e-mail. If you send it by next day delivery (costs about £4.50 extra but probably worth it considering the amount of money) they will get it and sign for it tomorrow, and hopefully honour it as the account was still open when you sent the money.

(If they don't honour deposits that were sent before the account was pulled, but clear after, it is going to be a big job for them to sort out refunds.....)

Steve_xx

Speculator wrote: »

FIVE YEAR BOND/ISA paying 5.00%, FIXED POSTAL BOND (Issue 5) and FIXED RATE E-BOND (Issue 6) withdrawn and FIXED POSTAL BOND (Issue 6), FIXED RATE E-BOND (Issue 9) and FOUR YEAR FIXED ISA (Issue 1) will be launched w.e.f. 17.7.09. FIXED POSTAL BOND Issue 6: a postal operated fixed term account maturing 24.8.11 with a minimum investment of £1K paying 4.20% yearly (3.95% monthly). No earlier access permitted. Additions whilst issue remains open. FIXED RATE E-BOND (Issue 9): a fixed term internet operated account maturing 23.8.13 with a minimum investment of £1K paying 4.55% yearly (4.30% monthly). Earlier access on 90 day notice and 90 day loss of interest. Additions whilst issue remains open. FOUR YEAR ISA (Issue 1): a fixed term internet operated cash ISA maturing 23.8.13 with a minimum investment of £1 paying 4.55% yearly. Earlier access and transfers out permitted on 90 day notice and 90 day loss of interest. Additions permitted whilst issue remains open. Transfers in accepted

https://www.emoneyfacts.co.uk/news/savings-news.aspx?newsarticleid=187504

The current ISA and bonds are Issue (1). I wonder of this means that these two will remain in place?

Johnny_Doe

Hi, I can't get to a phone right now, so can't ask cs..

I have opened an account and deposited 5k but want to deposit another 45k and receive 5% on the 50k.. Is this possible, it would be a challenge to get another 45k in there by end of play today...Will they allow a 20 day grace period for the remainer? Cheers

Steve_xx

Johnny_Doe wrote: »

Hi, I can't get to a phone right now, so can't ask cs..

I have opened an account and deposited 5k but want to deposit another 45k and receive 5% on the 50k.. Is this possible, it would be a challenge to get another 45k in there by end of play today...Will they allow a 20 day grace period for the remainer? Cheers

Their website still shows both bond & ISA so in fact they are still available.

cv65user

i am just trying to work out a rough idea of return on investment.

£20,000 over 5 year @ 5% =
5/ 100 =0.05 * £20000 = so thats £1000 a yr interest return?
so potentially £1000 a year * 5 year investment period = £5000
but obviously i dont earn full 5% on £20000 first year
so £5000 -£1000 1 yrs worth
so i am looking at 4000 £ return over the 5 years ? - tax

Johnny_Doe

Trouble is I need to transfer another 45k out of my offset mortgage into my linked account (A&L) then BACS from there into NBS - that will be delayed for quite a few days I'd imagine.. Can you top up the savings over the 5 yrs and still receive 5%?

dov

Johnny_Doe wrote: »

Trouble is I need to transfer another 45k out of my offset mortgage into my linked account (A&L) then BACS from there into NBS - that will be delayed for quite a few days I'd imagine.. Can you top up the savings over the 5 yrs and still receive 5%?

I strongly suspect there will be a grace period where the issue is closed but you can still top up the bond, possibly 20 days based on the confirmation page after applying for the bond when you don't set up the direct debit.

zzzLazyDaisy

Johnny_Doe wrote: »

Can you top up the savings over the 5 yrs and still receive 5%?

No. You can only top-up the account as long as the account remains open.

But, as another poster has pointed out, the confirmation e-mail gives you 20 days to fund the account, so hopefully that will apply to both the initial deposit and any subsequent funding.

alanq

"The 5 Year, 5%, Fixed Rate ISA and Bond (Issue 1) have been withdrawn and are no longer available for further applications. The Society will be launching alternative products on Friday 17th July 2009." http://www.newcastle.co.uk/savings

Speculator

I think the 20 days only applies to your initial deposit.