Norwich & Peterborough Fixed-Rate Bonds and ISAs altered

www.moneynews.co.uk > Banking > Norwich & Peterborough Fixed-Rate Bonds and ISAs altered

Norwich & Peterborough Fixed-Rate Bonds and ISAs altered

Thu 2nd Mar 2006

It has been revealed today that there is to be a rise in interest rate on all Norwich & Peterborough Fixed-Rate Bonds and ISAs.

The rate on the one-year bond will rise from 4.55 per cent to 4.75 per cent gross per year and from 3.64 per cent to 3.8 per cent net, with an annual equivalent rate (AER) of 4.75 per cent.

Group product manager at N&P, Gary Lacey, said: "Our research shows that 4.75 per cent is probably the best rate available for a one- or two-year fixed-rate bond on the high street."

On the two-year offer 4.6 per cent gross and 3.68 per cent net will rise to 4.75 and 3.8 per cent per year respectively, with the same AER as the one-year scheme.

Rate changes have also been made in the fixed-rate mini cash ISA and Tessa-only ISA, from 4.4 per cent to 4.55 per cent with an AER of 4.55 per cent.

A minimum investment of £1,000 is required to open a Norwich & Peterborough Fixed-Rate Bond and interest on the one-year offer can either be paid monthly or when the deal reaches maturity.

At this point all funds will be moved into the N&P Elite Interest Account.

Related News : Banking
	Young people 'should be taught to save'
	Families 'should plan for their children's future
	Switching bank accounts 'not as easy as banks portray'
	Brits facing finance difficulties 'should talk to their bank'
	Brits 'should utilise Isa allowances'
	Brits advised on investment options
	Children 'should be given bank accounts at 16'
	Falling inflation 'could help Brits save'
	Money worries 'are mounting for many'
	Contactless payment 'is secure and convenient'