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

2010

cv65user wrote: »

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

The interest is paid annually on 31st July.

cv65user

dougz wrote: »

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.

sorry was not meant to word my post like that . no i dont earn commission from other accounts that were signed up

i have not signed into my online account this year to check though!

cv65user

2010 wrote: »

The interest is paid annually on 31st July.

argh i cant wait i guess

cv65user

can someone advise what do i stand to loose if i withdraw all 23k . after july2012 (interest payment ). might use it to buy a house. is it 90 day notice.

Steve_xx

cv65user wrote: »

can someone advise what do i stand to loose if i withdraw all 23k . after july2012 (interest payment ). might use it to buy a house. is it 90 day notice.

If you read my post number 1 on this thread you will see that 90 days notice is required but that there is no loss of interest during the notice period.

cv65user

thx did someone mmention to keep putting in a notice every 90 days . and you can cancel if not needed ?

martint123

treecity wrote: »

Hmmm, not impressed at 5% for a 5 year bond. When you can currently get 4.5% for a two year fixed I can only imagine it won't be long before we see 5% for 2 year and even 1 year.

from the 2nd post of this thread - hindsight, crystal balls - who would have thought! I only wish we could have topped up at 5%

evenasus

martint123 wrote: »

from the 2nd post of this thread - hindsight, crystal balls - who would have thought! I only wish we could have topped up at 5%

I must say, I did wonder if I should open one - I did in the end.

So glad I did.

Just a shame the £85K protection wasn't in place then.

Speculator

.

martint123 wrote: »

from the 2nd post of this thread - hindsight, crystal balls - who would have thought! I only wish we could have topped up at 5%

It wasn't really a 5 year Bond.

It was infact a 90 day notice account with a 5 year interest rate guarantee.

I was stuck in HK at the time but still managed to open an account via the internet without any ID or paperwork because I already had an internet account with Newcastle BS. Also, thanks to Tesco banking and their high daily £10,000 FP limit.

thenudeone

cv65user wrote: »

thx did someone mmention to keep putting in a notice every 90 days . and you can cancel if not needed ?

I don't know about the 90 day version but the 5 year bond with 180 day notice allows you to have multiple future withdrawal instructions, the total of which can exceed the balance, and simply cancel each one shortly before it's due.

With a bit of planning its possible to turn this into a XX day notice account - just place multiple withdrawals xx days apart and cancel any unrequired ones just before they are due.