Fixed interest time deposits
Overview
Designed for both personal and business customers who are looking to deposit funds for a specific period of time at a fixed interest rate.
When will interest be paid on my savings?
Interest will be paid gross on the anniversary of the deposit being made and/or on maturity (according to the deposit term).
Over what period can I deposit my money?
Choose any deposit term between one month and five years
How much can I deposit?
The minimum deposit is £50,000.
Special conditions
No withdrawals, transfers or additional deposits can be made during the deposit term. You can, however, have more than one Deposit.
As a depositor, you will not become a member of the Society and will not have any associated rights.
Interest rates are set by our Treasury Department each day in the light of money market conditions and the required deposit. A member of staff in your local branch will be able to advise you of the current rates. Alternatively, please telephone our Treasury Department on Peterborough (01733) 372444 between 8.45am and 5.15pm, Monday to Friday.
A Fixed Interest Time Deposit can only be arranged after all identification requirements have been satisfied and when a depositor has read, signed and returned the "Terms of a Fixed Interest Time Deposit". A deposit can be arranged for the same day up to 11:30am.
Unless the intended deposit is already held in a Norwich and Peterborough account as cleared funds, the deposit must be made by telegraphic transfer. On maturity the deposit will be repaid to the original account from which it came, unless we are advised in writing of new account details. If the deposit is made by telegraphic transfer, it will be repaid by telegraphic transfer, free of charge.
You must declare the gross interest you earn on a Fixed Interest Time Deposit when completing your tax return. Norwich and Peterborough Building Society is required to supply the Inland Revenue each year with details of the interest we pay you.