NOW CLOSED Newcastle 3 year bond, 4% with 90 days notice to withdraw

evenasus

2010 wrote: »

2.5 year bond paying 4.25%

http://www.coventrybuildingsociety.co.uk/savings/productfeatures.aspx?ProdCode=CF118

http://forums.moneysavingexpert.com/showthread.html?t=2249735&highlight=coventry

Hobo_2

Also @ 4% is M&S Money fixed rate 3year with a fixed fee £100 instant get out

For those wanting to hedge their bets, better value for larger sums.


http://money.marksandspencer.com/save-invest/fixed-rate-savings/overview/

steveksullivan

Finally got someone very helpful at the Newcastle who has put the answer to my queries in writing so I'm now a happy bunny and about to open the account!! Cut and paste of the email follows and it answers Dopples question about how the notice period works.


Dear Mr ,

Thank you for your recent enquiry.

The Newcastle Fixed Rate Bond 39 is a 90 days notice. During the term of the investment if you wish to make a transaction on your account you will need to provide 90 days notice. Once the notice period has expired you have the option to transfer the full balance out of the account, or just part of the balance. Once the notice period on the account is up, you decide not to transfer the money out of the account, the notice period will lapse - and your account will continue as it was.

Please note there are no penalties for putting notice on this account.

If you have any further queries please contact us on 0845 606 55 22*, our opening hours are 8am-8pm Monday to Thursday, 8am-6:30pm Friday and 9am-5pm Saturday.

Yours Sincerely,

NewcastleNet Sales

Newcastle Building Society
Principal Office, Portland House, New Bridge Street, Newcastle upon Tyne. NE1 8AL

Telephone +44 (0)845 606 5522*

avalanche_3

To Hobo:

Note you have to withdraw the full amount with the M & S account, no part withdrawels allowed.

avalanche_3

To 2010:

The point of taking the Newcastle account was that access is allowed to part or all of the money by giving 90 days notice during the 3 year period.

You could give notice as often as you like and decide to use the option of withdrawing up to your account balance or not at the end of the notice period. See email in Steveksullivans post from Newcastle BS

No access allowed in the 2.5 years with the Coventry Bond.

2010

avalanche wrote: »

To 2010:

The point of taking the Newcastle account was that access is allowed to part or all of the money by giving 90 days notice during the 3 year period.

You could give notice as often as you like and decide to use the option of withdrawing up to your account balance or not at the end of the notice period. See email in Steveksullivans post from Newcastle BS

No access allowed in the 2.5 years with the Coventry Bond.

I know all that because I took out the 5% five year account with 90 days notice last year when it was all the rage on here.

The reason I posted the Cov was for anyone looking for probably the best rate (4.25%)for a 2.5 year fix on the market at the moment.
Some people don`t mind tying their money up if they can get a monthly income.

luvpump

Ime just over my 50k limit with Newcastle, but want to put some more money in this account, I cannot believe the Government would , If push came to shove, let a smaller BS fail, & depositers lose if over the 50k, the consequences if they did would cause massive panic... So have i got anything to worry about ? :think:

Reaper

luvpump wrote: »

Ime just over my 50k limit with Newcastle, but want to put some more money in this account, I cannot believe the Government would , If push came to shove, let a smaller BS fail, & depositers lose if over the 50k, the consequences if they did would cause massive panic... So have i got anything to worry about ? :think:

There is currently a de facto government policy to refund 100% of savers money in UK banks, so you are pretty safe. Of course the trouble with "de facto" policies is they can get changed without telling anyone.

Reaper

avalanche wrote: »

You could give notice as often as you like and decide to use the option of withdrawing up to your account balance or not at the end of the notice period.

Many years ago I used to work for the Woolwich and a small number of customers did just that. They would come in to the branch and give 90 notice notice of withdrawal. After it expired they would come in and do the same again for the next 90 days. It meant if they ever needed the money on average they could get hold of it after 45 days.

However I would not particularly recommend doing it continously. We don't want Newcastle to feel it is being abused and not offer such good terms in the future.

Rossan

steveksullivan wrote: »

I posted a link the other day asking for any views - got lots of replies but no opinions!!

Anyone got experience of the Newcastle - good or bad?

Need to find a home for some matured funds today......

Took out a bond with them in July and receiving monthly interest. All seems ok so far (fingers x'd!!), interest is received each month, and they answer the phone when you ring and I am able to access the account by internet.

I am certainly going to invest again with them

Hope this helps