THE MORE YOU SAVE, THE MORE YOU EARN

  • Save from £1,000 to £1 million
  • Leave your money to grow for 5 years
  • Attractive, guaranteed rate
  • The more you save, the more you earn
  • Annual or monthly interest option

GETTING ACCESS TO YOUR MONEY

  • Save in branch, or by post
  • Manage your account online 24/7
  • Early closure only with loss equivalent to 240 days interest

COULD BE IDEAL IF YOU…

  • Like to know exactly what your savings are earning
  • Are happy to tie your money up for a better rate
  • Use your savings to boost your monthly income
Current Rates
Account balance Gross Net AER
Annual - £1,000 and over 3.75% 3.00% 3.75%
Monthly - £1,000 and over 3.69% 2.95% 3.75%

Current rates effective from 13/07/2010


Definitions

* Interest will be paid gross (that is before the deduction of income tax) to persons not ordinarily resident in the UK. Otherwise interest will be paid after deduction of UK  income tax at the appropriate rate.

** Net rates (that is after the deduction of income tax) shown are for illustrative purposes only. The interest you earn on this account will currently be taxed at the rate of 20%.

*** AER means Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added each year.

Do I become a member of N&P when I open a 5 Year Fixed Rate Bond?

Yes you do.

This is a share account, which makes you a member of N&P. This means you can join N&P's general meetings and you have a vote on what's decided in them.

What will happen to my money when the term of the bond is finished?

Towards the end of the 5 years, we will contact you to discuss the best options available to you when your Bond matures.

The N&P variable rate, easy access Holding Account will apply on maturity.

What are the rules on withdrawals?

Early closure is allowed with the loss equivalent to 300 days interest

Can I open a Joint Account?

Yes you can.

The 5 Year Fixed Rate Bond is available in single or joint names.

When will my account start earning interest?

Cheques paid into an account paying a variable rate of interest will earn interest from the second working day after the day we receive them. Cheques paid into an account paying a fixed rate of interest will earn interest from the day we receive them.

Money paid into your account in cash or by Bankers’ Automated Credit will earn interest from the day we receive it. Interest is then paid for each full day your money is invested, and will be added to your account in January each year (unless otherwise stated).

Your money will earn interest up to, but excluding, the day you withdraw it.

Can I be certain that online banking is absolutely secure?

You can with N&P.

Our online system is extremely robust. It is constantly checked by both internal and external experts. Advanced encryption technology scrambles all sensitive data to provide total confidentiality.

You are given a unique customer number and a 10-character password. When you use the service for the first time you might want to change this password for one that's more easily remembered - but don't write it down or make it too obvious, so that someone else could guess it.

Can I manage my account online?

Yes you can, subject to you being 16 years old or over.

Online you are able to:

  • View up-to-the-minute balances on all your N&P savings and current accounts whenever you like.
  • Check all payments and withdrawals on your account.
  • Set up and cancel payments.
  • Transfer funds between your N&P accounts.
  • Send and receive secure email messages about your account.

To manage your account online you'll need to register for our online banking facility, just download an application form, fill it in, and send it to:

Norwich and Peterborough Building Society
Online Banking Applications
Peterborough Business Park
Lynch Wood
Peterborough
PE2 6WZ

The maximum amount you can withdraw online is £10,000 per day.

Is N&P a member of the Financial Services Compensation Scheme?

Yes we are.

N&P is a member of the Financial Services Compensation Scheme, meaning that your money is protected to a maximum of £50,000.

What if I'm unhappy with the terms of my account?

Just tell us.

We make it our aim to do the best we can for all our customers. If within 14 day's (7 day's for all Fixed Rate Bond products) you decide that this account is not for you, we will be happy to transfer your money to another N&P account.

Or if you prefer, we will return your money to you without any charge being made, or notice being required.

GUARANTEED RATE OF INTEREST

  • As long as you keep at least £1,000 in your account throughout the 5 years, we'll give you a guaranteed return on your money.
  • While the balance is below the minimum investment, the interest rate payable will be the same as that payable for our Investment Share account (excluding bonus interest rates) as varied from time to time (please call +350 200 45050 for details). We also reserve the right to close the account if the minimum investment is not maintained.

INTEREST PAID

  • Interest on your savings can be paid monthly or annually.

THE EASY WAY TO MANAGE YOUR MONEY

  • You manage your 5 Year Bond online, giving you access to your cash around the clock, 7 days a week.

MINIMUM INVESTMENT

  • To keep your account open, you need to keep a balance of at least £1,000.

MAXIMUM SAVINGS

  • The maximum you can invest in your 5 Year Bond is £1 million.

Our Satisfaction Pledge

At N&P, we understand how important it is for you to be satisfied with your investment accounts. If you open any new Fixed Rate Bond and, within 7 days, you decide that it does not meet your requirements, we will be happy to transfer the balance to another N&P account. This is called a 'cooling off' period. Alternatively, we will return your money to you without any charge or notice being required. Any transfer or refund will be subject to the relevant funds having cleared i.e. a period of at least four days (excluding Saturdays, Sundays and public holidays) must be allowed for the clearance of deposited cheques.

 
Key Product Information
Summary Box
Key Product Information for our 5 Year Fixed Rate Bond Account
Interest rates (GROSS/AERs) Fixed rate for either 6 or 9 months, 1, 2, 3 or 5 years. N&P’s variable rate, easy access Holding Account will apply thereafter.
See the Features and Benefits section for current rates.
Tax Status Interest is paid net. Gross interest can be paid subject to eligibility and required registration
Conditions for bonus payments No bonus is payable on Fixed Rate Bonds.
Withdrawal arrangements

Access during the fixed rate period with the loss of a number of days interest, dependent on term.

  • 6 months, 9 months, 1 year and 2 year Bonds – no early access or closure permitted during term of the Bond
  • 3 year Bond – loss equivalent to 240 days’ interest on early closure only
  • 5 year Bond – loss equivalent to 300 days’ interest on early closure only
Access This account can be opened in branch or by post. It can also be operated via the internet.

Read our General Savings and Investments Terms and Conditions.

Read our Savings Fact Sheet.