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

Loco

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:

yeah same here having got the 5% account back in June....deliberating whether to `risk` investing more and going over the 50k but I doubt it.

james.crowley

hey, this is probably a really dumb question, but what's the deal with the monthly vs paid on maturity interest rates?

Paid on maturity (Fixed) Monthly (Fixed)
Gross* AER** Gross* AER**
4.00% 4.00% 3.75% 3.82%

The way I understood it, AER should be the same for both of those?? (assuming it *is* the same interest rate after you take into account compound interest). What am I missing??

Thanks

James

gozomark

missing nothing - they are paying a lower AER on monthly, which is quite common - why do you think they should be the same ?

apt

No, the interest rate is lower if you decide to take the monthly interest option, hence the AER is only 3.82% not 4%.

Reaper

I was sorry to see MSE messing up the latest newletter telling people to take out a lower paying 6 month/9 month/1 year fixes rather than using this product.

Innys

Reaper wrote: »

I was sorry to see MSE messing up the latest newletter telling people to take out a lower paying 6 month/9 month/1 year fixes rather than using this product.

Yup, I spotted that too. This product has been out for well over a week and yet no mention on Martin's recommendations. Very odd....

Reaper

I've pointed it out over on Site Suggestions so hopefully they will see it there

avalanche_3

Maybe then people will start noticing what a good product this is for short term savings.

It has been about a few weeks and maybe won't last much longer.

thepearce

There's always a decision to be made as for the weekly email. Things that end up in it, of this type, rarely last long. Perhaps this is extra time to get applications in and funded before it's released to the masses.

Agree though - a very good deal. I've moved some Lloyds Vantage funds into this whilst I can and will top up the Vantage with fresh money when possible.

Rollinghome

Anyone used them recently and got online access to account yet? Two accounts opened 8 days ago but still waiting for User ID number.