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

Gambit

malik999 wrote: »

I'm so glad i got in on this account (5% / 90 day notice) I haven't seen anything to better it.
Thank you to whoever it was who originally posted the details.#
My only regret is i didnt notice they were also doing a ISA.

Same here! Ahh well, cant win them all. At least we got the bond :beer:

martint123

cv65user wrote: »

What I have done , is opened an online saver with £1 in it and I can now view my 5 year bond.

Could you let me know the full name of the account - I couldn't when I looked.

cv65user

martint123 wrote: »

Could you let me know the full name of the account - I couldn't when I looked.

web saver something , its like 2% , but i only left a pound in it anyway via BACs

this is how it would look like




edit : looks like theyve dropped it too ! ref http://www.newcastle.co.uk/savings/closed_accounts_rates

cv65user

Baldur wrote: »

A normal fixed rate savings account (or 'bond' in marketing-speak) can't simply be converted into a Cash ISA - a specific Cash ISA application has to be completed for the tax year in question, along with the HMRC ISA specified declarations; so it's simply not possible for any institution do do this without your intervention.

You appear to be reading the Terms & Conditions of the similarly-named FRISA (see the first page of posts on this thread) and confusing yourself in the process.

Right yeah , I opened the bond not ISA . So I now understand I cannot transfer bond into an existing ISA as it must be in an existing ISA .

So at the end of it they will just convert/put it into an current accout for me? Then I will have 28 days to do something with it (ie. BACs it back to my original halifax account) before I get a penalty.

Baldur

cv65user wrote: »

Right yeah , I opened the bond not ISA . So I now understand I cannot transfer bond into an existing ISA as it must be in an existing ISA .

So at the end of it they will just convert/put it into an current accout for me? Then I will have 28 days to do something with it (ie. BACs it back to my original halifax account) before I get a penalty.

The Terms & Conditions should tell you what happens on maturity. Their internet fixed rates usually mature into a Web Saver account, from which you can transfer the funds to whichever account you specify.

cv65user

thanks for that you been absolutely helpful. now i need to find T&C PDF or does anyone have to hand please ?

martint123

cv65user wrote: »

web saver something , its like 2% , but i only left a pound in it anyway via BACs

Yes, it looks like the only remaining online account have a £250 minimum now.

cv65user

looks like its been a year now since i have opened it.
i just logged in to find a nice suprise big interest payment as i opted for yearly interest.
four more years to go people!

martint123

As with the ISA, access is available at 90 days notice. Contrary to the first post, there is not a loss of 90 days interest.

http://www.newcastle.co.uk/savings/5yearbond

That link seems to have gone away - did anyone keep a copy of its content ??

Steve_xx

martint123 wrote: »

That link seems to have gone away - did anyone keep a copy of its content ??

See here:

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

I did amend my first post on this a long time ago in order to clarify that though there is a 90 notice period to withdraw funds, that there is no loss of interest during this notice period.