Nationwide To Launch 3-Year 4.5% Bond

alanq

"Exclusive to savers with accounts older than three months, is a three-year bond paying 4.5% fixed on £1,000 to £5,000, or 4.4% if interest is taken monthly."

Available from Wednesday (24th November)
http://www.thisismoney.co.uk/news/opinion/article.html?in_article_id=518544&in_page_id=19&in_author_id=3

Milarky

It also says in the article that this 'bond' may be held as an ISA (at the same rate). Not sure if this includes accepting a transfer-in though.

Details in a few days, I imagine.

alanq

I forget to add that the upper limit within an ISA will be £5100 not £5000.

le_loup

Milarky wrote: »

It also says in the article that this 'bond' may be held as an ISA (at the same rate). Not sure if this includes accepting a transfer-in though.

One of the things that NW are still proud of is that all their ISAs allow transfers in ... I think that IS different!

alanq

• Open at any Nationwide branch
• You can make just one lump sum payment by cash or cheque

http://www.nationwide.co.uk/savings/bonds/christmasloyaltybond/

Christmas Loyalty Bond

• 28. Christmas Loyalty Bond is only available to existing customers aged seven or over who have continuously held personal savings with Nationwide for at least 3 months prior to opening the account.
• 29. Only ONE Christmas Loyalty Bond may be opened per customer. This can either be held in your sole name or with another person as a joint account.
• 30. The account can have a maximum of two joint account holders.
• 31. The minimum deposit is £1,000. The maximum deposit is £5,000 for sole accounts and £10,000 for joint accounts
• 32. The account is for a fixed term of 3 years, starting on the date the account is opened and ending on the third anniversary of the opening of the account.
• 33. Interest is paid on 31 October each year or monthly on the last day of each calendar month and on maturity.
• 34. The account may be closed prior to maturity, subject to an early access charge of 270 days interest. If there is insufficient earned interest, then the amount of the early access charge will be taken from the funds in the account. The funds in the account, together with any interest earned and less the early access charge, will be paid to you. This charge does not apply on closure due to the death of the account holder.

http://www.nationwide.co.uk/savings/legal.htm?acc=bonds

alanq

le_loup wrote: »

One of the things that NW are still proud of is that all their ISAs allow transfers in ... I think that IS different!

Please note that this product accepts new cash ISA subscriptions only. This means that you cannot transfer your existing cash ISA funds from another ISA provider or from another Nationwide cash ISA product into this account.
http://www.nationwide.co.uk/savings/cash_isa/christmasloyaltyisa/introduction.htm

apt

le_loup wrote: »

One of the things that NW are still proud of is that all their ISAs allow transfers in ... I think that IS different!

Another area in which Nationwide is no longer different. The Christmas Loyalty ISA does not allow transfers.

alanq

alanq wrote: »

Open at any Nationwide branch

Contrary to what I quoted above it seems that this account can also be applied for by phone.
http://www.nationwide.co.uk/savings/bonds/christmasloyaltybond/apply.htm

premierfella

The phone option seemed to disappear from the website yesterday, and I still need to get one of these opened but a branch visit involves an inconvenient special trip which I wouldn't want to result in being told "appointment required". Branch phone sadly not being answered.

Can anyone confirm if they have still been able to open one over the phone today, or have knowledge of whether appointments are ever needed at Nationwide?

Thanks in advance.

alanq

I applied for one by phone yesterday and queued on the phone line for a few minutes (I wouldn't have done had it not been an 0800 number). It took several minutes to open while the poor woman had to read out her lengthy script. Why the heck don't they provide an e-bond or online or postal application option and make it easier for everyone?

I haven't any recent experience of opening an account in branch. In the past an appointment hasn't been necessary if one was prepared to wait as long as is necessary for someone to become available.

Ken68

I had this trouble last year at Nationwide, when cashing in an ISA. They wanted full identification etc, original certificate passport etc.
I wouldn't have minded but the cashier was me daughter.