MSE News. Save at 5% with access to your cash (Newcastle BS 5% Bond) NOW CLOSED

Former_MSE_Guy

The following is the discussion thread for the following MSE News Story

"Savers can lock-in an interest rate of 5% for up to five years and still have some access to their money.

But those who are keen must hurry as the account in question, the Newcastle Building Society five-year bond, will be pulled on Wednesday..."

Read the full news story:
Urgent! Save at 5% with access to your cash

G_M

PLEASE!

a) Lots of threads on this already
b) Put provider name in thread title so we don't waste time clicking!

Thanks

ps - this is Newcastle BS 5 year Bond

tiptoe_mouse

The MSE news article states

Yet you can withdraw your cash with three months' notice, though you won't earn any interest during that period.

Can anyone point me to whereabouts on the Newcastle website it says you lose interest? As far as I can see, it simply says you need to give 90 days notice.

tiptoe

PS It is also available as an ISA - this doesn't seem to be mentioned in the article.

zzzLazyDaisy

I have checked the T&C's and can't find a reference to loss of interest during the 90 day notice period

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

I need to top up my bond before it closes, but really need to be clear on this point first.

Can anyone clarify please?

G_M

All answered in the existing thread!

zzzLazyDaisy

G_M wrote: »

All answered in the existing thread!

Not really. The information in the article contradicts the info on the thread, which says that the N'castle BS has confirmed there is NO loss of interest during the 90 day period.

Either the article is wrong, or the information in the thread is incorrect.

G_M

Not really. The information in the article contradicts the info on the thread, which says that the N'castle BS has confirmed there is NO loss of interest during the 90 day period.

True, but

What is the point of having a debate in a new thread covering the exact same points covered in the old thread? What posters can add here will simply duplicated what (usually same) Posters have already attempted to establish - and most believe it is established.

However, if you do not take on trust what you read on the threads, then not much point asking the question again!

Lokolo

It will be the article thats wrong. I don't know of banks which give a notice period in which you lose interest too.

Speculator

From press release dated 6th July...

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

Savers looking to invest for longer than two years have a number of other options with the Newcastle which has recently launched its Five Year Fixed Rate Bond, offering 5.00% Gross/AER annually, with withdrawals permitted at 90 days notice and no loss of interest. A monthly interest version is also available at a rate of 4.75% Gross / 4.85% AER

bristolleedsfan

Lokolo wrote: »

It will be the article thats wrong. QUOTE]


Wont be the first time, Natwest 50.00 Cashback offer thread springs to mind. :rolleyes:

zzzLazyDaisy

G_M wrote: »

However, if you do not take on trust what you read on the threads, then not much point asking the question again!

All I am saying is that it is reasonable to expect an MSE article to be properly researched. If there is no loss of interest during the 90 day period (which appears to be the case) then the table (which takes up most of the article), is misleading and inaccurate.

So it is not unreasonable, in my view, to ask MSE for clarification.