New 5 Year Fixed Rate Bond Launched
7 August 2009: Stroud & Swindon Building Society has today announced the launch of a new fixed-rate bond at a rate of 4.60% AER until 16 September 2014.
This new product is available from all Stroud & Swindon branches, agencies, telephone (08457 25 24 23) and via the Stroud & Swindon website and offers a monthly income option and a guaranteed return of investment on maturity. The bond is a limited issue so customers wishing to take advantage of this competitive product should apply early to avoid disappointment.
Chris Mackenzie, Savings Product Manager, comments:
“We are delighted to be able to offer this new fixed rate bond at a competitive rate of 4.60% AER. As the account is fixed until 16 September 2014, it is a great option for those who are able to put their money aside for the medium term, in order to benefit from a very competitive rate of interest”. “We are expecting demand for the product to be very high, so recommend customers to take advantage of the product whilst it is still available.”
- ENDS –
For further information please contact:
Chris Mackenzie
Savings Product Manager
Stroud & Swindon
01453 768 415
Amy Pegler
Corporate Communications Officer
Stroud & Swindon
01453 768 241
Notes for Editors
Fixed Rate Bond at 4.60% AER
- Minimum investment of £1,000
- Gross interest available to eligible non-taxpayers
- Guaranteed return of investment on maturity
- Maximum investment of £500,000 applies, whilst the issue is still available
- The product is a limited issue, and so will be withdrawn once fully subscribed
- Product is available via Stroud & Swindon branches, agencies, telephone (08457 25 24 23), or online
- Annual interest is calculated on a daily basis and credited annually at midnight (commencing 1 September 2009) and up until midnight on 16 September 2014
- Monthly interest is calculated on a daily basis and will be credited monthly at midnight commencing 1st of the month once the account is opened and up to midnight on 16 September 2014
- Interest will be transferred to bank account, another Stroud & Swindon account or added to a new bond.
- Annual interest is set at 4.60% gross / AER and 3.68% net
- Monthly interest is set at 4.51% gross, 4.60% AER and 3.61% net
- No withdrawals or closures are allowed throughout the term of the bond except on the death of the bond holder
- The bond will mature on 17 September 2014
- Rates are correct at the time of going to print
About Stroud & Swindon Building Society:
Stroud & Swindon has assets in excess of £3 billion. The Society operates through a branch network of 22 offices and 19 agencies in the South West, complemented by a customer contact centre based in Gloucestershire and website
www.stroudandswindon.co.uk.