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

efunc

thanks for the advice all, much appreciated

SnowMan

Interest on the 5 year bond was due to be paid on 31st July (for those choosing the annual option).

I've just checked mine (as have an easy access account with a £1 in which gives me view access to my balance on the 5 year bond) and figure is spot on.

Very pleased I managed to get in on this account. No sign of achievable interest rates going anywhere even near 5%, so good to be able to stay in here and earn a good rate, with the knowledge the 90 days notice withdrawal option is available for the future if needed.

Steve_xx

SnowMan wrote: »

Interest on the 5 year bond was due to be paid on 31st July (for those choosing the annual option).

I've just checked mine (as have an easy access account with a £1 in which gives me view access to my balance on the 5 year bond) and figure is spot on.

Very pleased I managed to get in on this account. No sign of achievable interest rates going anywhere even near 5%, so good to be able to stay in here and earn a good rate, with the knowledge the 90 days notice withdrawal option is available for the future if needed.

I think that the withdrawal option is 30 days.

kostigovs

Steve_xx wrote: »

I think that the withdrawal option is 30 days.

Sticker on the back of my passbook says 90 days notice required

SnowMan

Steve_xx wrote: »

I think that the withdrawal option is 30 days.

I think the penalty free withdrawal option notice is 90 days.

You may be mixing it up with the ISA (with the same terms otherwise) where there was a question of whether the notice was 30 days or 90 days?

https://forums.moneysavingexpert.com/discussion/1773525

I don't have the ISA account so don't know what the outcome was of that discussion on the ISA notice period.

Steve_xx

SnowMan wrote: »

I think the penalty free withdrawal option notice is 90 days.

You may be mixing it up with the ISA (with the same terms otherwise) where there was a question of whether the notice was 30 days or 90 days?

https://forums.moneysavingexpert.com/discussion/1773525

I don't have the ISA account so don't know what the outcome was of that discussion on the ISA notice period.

Yes, you're right. I am confusing it with the ISA, which was reduced from whatever it started at to 30 days.

martint123

kostigovs wrote: »

Sticker on the back of my passbook says 90 days notice required

Oh dear, now what did I do with mine then

efunc

Apologies again for coming back to this thread with a daft question: I don't remember if I was asked to nominate a linked account when I opened the 5-year bond. If I didn't do so, or even if I did, would I be able to close the account and ask to have the money transferred to my new Santander Saving account rather than my usual Current Account?

cv65user

its 3rd year !! big bonus coming my way for those who signed up to this 5 yr bond :money:

dougz_2

c65user, How come you're earning a bonus from others signups?

BTW I notice their online accessible account (see earlier for why useful for 5yr holders) has been replaced with one needing an increased minimum balance of £500. Although at 2.7% it does get more interest than the previous £250 one.