Fixed Rate Bond (25 March 2020)
You should read this document carefully in conjunction with our Savings terms and conditions booklet to ensure you understand the features and conditions of what you are buying and keep it safe for future reference. Our savings accounts are only available to UK residents.
||Fixed Rate Bond (25 March 2020)
|What is the interest rate?
||Fixed at 1.00% gross/AER until 25 March 2020
- Interest is calculated daily and will be added to the account on 25 March 2020.
|Can Newbury Building Society change the interest rate?
- No, the interest rate is fixed until 25 March 2020.
|What would the estimated balance be on 25 March 2020 assuming £5,000 was invested on 25 March 2017?
||The estimated balance would be £5,150 based on the following assumption:
This estimation is for illustrative purposes only and does not reflect individual circumstances.
- £5,000 is paid in on 25 March 2017 and no further deposits are made during the term of the account.
|How do I open and manage my account?
- Available to customers aged 18 and over.
- Account must be opened in person, in one of our branches. It cannot be opened by post or online.
- Once opened, it can be operated in branch or via post.
- Account can be opened by cheque or transfer from another Newbury Building Society account or a bank account in the account holders’ name.
- Account holder must be resident within our operating area as defined in ‘Important notes’ below.
- The minimum opening balance is £5,000.
- Additional deposits may be made until the bond is closed to new deposits, subject to account balance limits.
- The maximum balance is £1,000,000.
|Can I withdraw money?
- No withdrawals can be made during the fixed rate period.
- Prior to maturity on 25 March 2020, we will write to you with the options available to you. If we are unable to contact you, the funds will be transferred into an instant access (variable rate) account.
- Tax Status - From 6 April 2016, HMRC introduced a Personal Savings Allowance for individuals and as a result interest on savings is paid gross of tax. Your tax treatment will depend on your individual circumstances and may be subject to change in the future. For further information go to WWW.GOV.UK
- Our local operating area is: AL, BA, BH, BN, BS, DT, EX, GL, GU, HA, HP, HR, KT, LU, MK, NN, OX, PO, RG, RH, SG, SL, SM, SN, SP, SO, TA, TW, UB, WD, WR. We accept savings applications from existing members regardless of their postcode.
- There are no charges for the normal operation of this account. See our Savings terms and conditions for more information.
- Account holders will be issued with Member Loyalty Card enabling discounts and special offers from local traders who participate in our scheme.
Gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
LIMITED AVAILABILITY - PRODUCT MAY BE WITHDRAWN WITHOUT NOTICE