New Limited Issue Fixed Rate Bond Launched
Stroud & Swindon, the UK’s 14th largest Building Society launches a limited issue bond, offering a guaranteed return on maturity.
The bond is fixed at a rate of 6.81% gross (6.92% AER*) until 12th August 2008. Withdrawals not permitted throughout the term of the bond, except on death of the account holder.
The bonds are available via any Stroud & Swindon branch or agency, direct (telephone 08457 045 012) and online (www.stroudandswindon.co.uk) from the 11 January 2008. Minimum (£500) and maximum (£500,000) investment limits apply and additional investments are allowed up to the overall limit, but only whilst the issue remains open.
Paul Chafer, Commercial Director at Stroud & Swindon comments, “We are delighted to be able to offer this fixed rate bond. With a minimum investment of only £500, this is a very good option for customers wishing to take advantage of a great savings rate, without having a huge amount of money to invest. We hope customers will be quick to take advantage of this highly competitive offer while it lasts.”
For further information please contact the Customer Service Centre on 08457 045 012
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For further comment please contact:
Paul Chafer Commercial Director
Stroud & Swindon
01453 768407
Lee Blackwell / Suman Katyal / Karen Butcher
The Wriglesworth Consultancy
020 7845 7900
Notes to Editors:
About Stroud & Swindon Building Society:
Stroud & Swindon is the 14th largest building society in the UK with assets in excess of £3 billion. The Society operates through a dedicated team of intermediary business development managers, with a branch network of 22 offices and 20 agencies in the South West, complemented by a contact centre based in Gloucestershire and website www.stroudandswindon.co.uk.
LIMITED ISSUE FIXED RATE BOND
- Issue 64 (6.81% gross) (6.92% AER*) matures on 12 August 2008. Withdrawals not permitted.
- Minimum Investment of £500 is required to open the account.
- Maximum investment is £500,000.
- Additional investments allowed up to the overall limit but only whilst the issue remains open.
- Guaranteed return of investment on maturity.
- Gross interest is available to eligible non-taxpayers.
- Withdrawals are not permitted on this account.
* Please note that in order to calculate the AER for a bond that matures inside a year it has to be calculated by capitalising the interest on the maturity date and adding it to the account and then applying the same interest rate (6.81%) for the remainder of the year. The customer will not receive this rate (6.92% AER), but we are obliged to display the AER rate for comparative purposes. The customer will actually receive 6.81% gross from the day their capital starts to earn interest until 12th August 2008.