Members
Closed accounts interest rates
This table shows the investment rates for Newbury Building Society's accounts closed accounts. With effect from 14 April 2009.| Account type | Interest rate tier | Gross % | Gross AER % | Net equiv % | Net AER% |
|---|---|---|---|---|---|
| Closed accounts | |||||
| Member Cash ISA | £50+ | 2.00 | 2.00 | N/A | N/A |
| Premium portfolio bond | £1,000+ | 0.40 | 0.40 | 0.32 | 0.32 |
| Monthly Saver Rate includes conditional bonus | £10+ | 2.60 | 2.60 | 2.08 | 2.08 |
*AER The Annual Equivalent Rate, which is the notional rate illustrating the contractual interest rate (excluding any bonus payable) as if paid and compounded once a year (as every advert that quotes an interest rate will contain an AER, you will be able to compare more easily what return you can expect over time).
The "gross" interest rate quoted is the contractual rate of interest payable before the deduction of Income tax specified by law (currently 20%). The "net" interest rate is the interest rate payable after allowing for the deduction of Income tax at the specified rate, currently 20%. The "tax exempt (free)" interest rate quoted is the contractual rate of interest payable where interest is exempt from Income tax.
