If you are looking to save at least £ 5,000 , provided you are convinced in keeping it untouched for the next 3 years, then our 3 Year Fixed Rate Bond could be the perfect answer for you. The amount shall be shifted by us from your appointed account to your Fixed Rate Bond account.
Interest will be paid at the Bank of England base rate, currently 0.50%, until the start date of your bond. You bond starts on the date 04 January 2011.
Another NatWest account is required for the payment of interest – you will need to have a NatWest current account or certain instant access savings accounts (this is not including our e-Savings and Cash ISA savings accounts) for payment of interest.
Annual interest is computed daily and paid on the last business day in April and on the last day within the term of the Bond. Nevertheless, there are no partial withdrawals or additional deposits allowed. This indicates that an early closure of the Bond will incur an early redemption fee equivalent to 270 days Gross interest.
Gross is the interest paid before the deduction of tax.
Annual Equivalent Rate (AER) illustrates what the interest rate would be if paid and compounded each year.
What Are The Benefits Of Natwest Three Year Fixed Bond?
The NatWest three year fixed bond is indeed very beneficial if you wish to multiply your savings. With this bond, it shall happen so in the span of three years. All you need to keep in mind is that you should not disturb this amount for these three years and the wait is all worthy, once you get the returns.
In the first year you get 2.00% AER. Then, in the following year, you get 4.00% AER. Finally, in the third year you get 6.00% AER.
Earlier I was of the opinion that waitng for 3years would be a bit too long if I had to wait for my money to grow. But the interest rate was so tempting I couldn’t resist it!
I would suggest everyone to go for the 3 year fixed rate bond! Not only do you save your money but you also earn income on your savings! too good!
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