Fixed Rate Loyalty Bonds
Manage your money online
With this account you have the ease and convenience of being able to check and manage your money online and have access to your cash 24 hours a day, 365 days a year.
A higher and fixed rate of interest
You’ll receive a fixed rate of interest that is higher than the standard rate of interest on a Two Year Fixed Rate Bond. Interest is paid annually on 1 January
Would monthly income be of interest?
If you want to receive the interest from your account monthly as an income, we can arrange for it to be paid to an account of your choice – all our bonds offer this facility.
Access to your money whenever you want
Although you can make withdrawals from your investment before it matures, you will lose an amount equivalent to 120 days’ interest on the amount you withdraw for doing so.
Other information
The minimum investment and balance until the bond matures is £1,000; the maximum is £25,000 per person (£50,000 for joint accounts).
Please note that only one Fixed Rate Loyalty Bond can be opened per customer. You can, however, open a Fixed Rate Loyalty Bond for yourself and also open a Children's Loyalty Bond on a trustee basis.
Towards the end of the term of the bond, we will contact you to discuss the options available to you when it matures. Unless you tell us otherwise, we will transfer the capital and interest from your bond on maturity to an easy access Holding account.
Summary
Summary Box Key Product Information for our Savings Accounts |
|
| Account Name | Fixed Rate Loyalty Bond |
| Interest rates (AERs) | Fixed rate for 2 years that is higher than the standard 2 year Fixed Rate Bond. N&P’s variable rate, easy access Holding Account will apply thereafter (please see ‘You want to know our interest rates?’ for current Holding Account Interest rate). Please click here for current rates. |
| Tax Status | Interest is paid net. Gross interest can be paid subject to eligibility and required registration |
| Conditions for bonus payment | No bonus is payable on a Fixed Rate Loyalty Bond. |
| Withdrawal arrangements | Access during the fixed rate period with the loss 120 days interest on amount withdrawn. |
| Access | This account can be opened and operated at any of our branches or by post. It can also be operated via the internet. |