Norwich & Peterborough One-Year Fixed-Rate bond among changes

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Norwich & Peterborough One-Year Fixed-Rate bond among changes

Tue 18th Apr 2006

The Norwich & Peterborough One-Year Fixed-Rate bond has seen a rise in interest rate, from 4.6 to 4.65 per cent gross on an annual basis.

On a monthly basis, the interest rate has increased from 4.51 to 4.55 per cent gross.

A rise in rate has also been introduced to the six-month offer, from 4.3 to 4.55 per cent on a full-term basis and 4.22 to 4.46 per cent monthly.

Interest can be paid monthly or annually on January 1st into any building society or bank account and on maturity the funds in the bond will be transferred into the N&P Elite Interest account.

A minimum investment of £1,000 is required to open a Norwich & Peterborough One-Year Fixed-Rate bond and withdrawals are permitted without notice provided at least £1,000 remains in the bond.

However, withdrawals will incur 30 and 50 days' loss of interest in the six-month and one-year products respectively.

Only one investment can be made in each bond but more than one package may be opened.