HERE'S HOW IT WORKS

  • You'll need to first open a Gold Current Account and when that's set up, open a Gold Savings Account

  • Run both accounts in branch, by post or online (account cannot be opened online)

  • Save from £20 to £250 a month into your Gold Savings Account

  • Transfer £500 or more into your Gold Current Account every month

  • Don't touch your savings for a full 12 months

  • Invest up to £3,000 over the year into your Gold Savings Account

  • That's it! You'll earn a fantastic 5.00% gross/AER*** on your savings

COULD BE IDEAL IF YOU

  • Want a great rate that's fixed for a year

  • Don't need access to your savings

Current Rates
Account balance Gross Net AER
£20 - £3,000 5.00% 4.00% 5.00%

Current rates effective from 15/03/2010

Definitions

* Interest will be paid gross (that is before the deduction of income tax) to non-taxpayers subject to eligibility and the required registration. Otherwise interest will be paid after deduction of income tax at the appropriate rate. Please note that gross interest can only be paid to customers aged 16 or over if they are the named account holder.

** 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.

HOW DOES IT WORK?

  • Your Gold Savings Account is linked to your Gold Current Account.

  • To get the special rate this account offers, you just have to save between £20 and £250 into your Gold Savings Account every month.

  • Your Gold Savings Account is limited to 12 months.

  • You can only ever have one Gold Savings Account.

MINIMUM INVESTMENT

  • You must save at least £20 and up to £250 each month for a full 12 months.

  • You also need to pay at least £500 into your Gold Current Account every month over the same period.

MAXIMUM SAVINGS

  • The maximum sum that can be invested in a Gold Savings Account is £3,000.

WHAT HAPPENS AFTER THE 12 MONTHS?

  • After the 12 months, your money will be transferred into an N&P Easy Plus Account.

WITHDRAWALS

  • You can't make any withdrawals from your Gold Savings Account during the 12 months - that's how we are able to offer you such a great rate of interest at the end.

INTEREST

  • Interest on your savings is paid on the anniversary of the account open date.

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 investment account and, within 14 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 Gold Savings Account
Interest rates (GROSS/AERs) Fixed rate for 1 year. After 12 months, funds are transferred to the variable rated, easy access Easy Plus account.
Please see Features & Benefits tab for current interest rate.
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 this account.
Withdrawal arrangements No withdrawals are allowed in the first year unless it is closed. Once funds are transferred into Easy Plus, there is easy access without notice or loss of interest
Access This account can be opened and operated at any of our branches 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.