Newbury Building Society

Availability

Limited availability from 22 March 2008.

Eligibility
The bond is open to new and existing investors.
It can be opened in single or joint names.

Transfers from existing accounts
Existing members can transfer funds from any Newbury Building Society account where the notice period is less than the term of the Bond (and where the account allows withdrawals) without paying penalty interest on the transfer amount.

Account balances
Minimum opening balance = £5,000
Maximum opening balance = £1,000,000

Account must be opened by personal cheque (or cheque from a Building Society savings account) or a transfer from an existing Newbury Building Society account.

Additional deposits
After the opening deposit, no further deposits are allowed.

However, investors may open more than one bond subject to availability and provided that their total balances in the product do not exceed £1 million.

Withdrawals
No withdrawals can be made during the fixed rate period.

Interest
Fixed at 5.90% gross/AER*

Interest will be added to the account at
maturity (30 April 2009).

Maturity
The bond matures on 30 April 2009.

End of fixed rate period
At the end of the fixed period, we will invite investors to a savings review to discuss investment options. These options will be dependent upon our product range and the customer needs at that time.

If we are unable to contact the investor or they do not respond to us, the funds will be transferred into an instant access account matching Instant Premium rates with effect from 1 May 2009.


For further savings information, please see Savings Explained.

* The gross interest rate quoted is the contractual rate of interest payable before the deduction of income tax at the specific rate (currently 20%). AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advertisement for a savings product which quotes an interest rate will contain an AER, you will be able to compare more easily what return you can expect from your savings over time.
AER assumes the investment was made on 30 April 2008.