New Fixed Rate Bond at 5.90% AER
19 April 2008: Stroud & Swindon Building Society has today announced the launch of a new fixed-rate bond at a rate of 5.90% AER until 14 April 2009.
This new product is available from all Stroud & Swindon branches, agencies, telephone (08457 252 423) 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.
Briar Holdsworth, Savings Product Manager, comments:
“We are delighted to be able to offer this new fixed rate bond at a competitive rate of 5.90% AER. As the account is only fixed until 14 April 2009, it is a great option for those who are able to put their money aside for the short term, in order to benefit from a very competitive rate of interest.
“We are expecting demand for the product to be very high, so urge customers to take advantage of the product whilst it is still available.”
- ENDS –
For further information please contact:
David Greenleaf
Corporate Communications Manager
Stroud & Swindon
01453 768244
Suman Katyal / Karen Butcher
The Wriglesworth Consultancy
020 7845 7900
Notes for Editors
Fixed Rate Bond at 5.90% AER
- Minimum investment of £1,000 (£5,000 for monthly interest option)
- 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- The product is a limited issue, and so will be withdrawn once fully subscribed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 252 423), or online.
- Annual interest is calculated on a daily basis and credited annually at midnight (commencing 1 April 2009) and up until midnight on 14 April 2009
- 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 14 April 2009
- Interest will be transferred to bank account, another Stroud & Swindon account or added to a new bond.
- Annual interest is set at 5.90% gross / AER and 4.72% net
- Monthly interest is set at 5.75% gross, 5.90% AER and 4.60% net
- Withdrawals are subject to a 90 days gross interest charge on the amount withdrawn
- The bond will mature on 15 April 2009
- For savers under seven years old the account must be opened by adults (maximum 2) who will act as signatures on the account
- 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 dedicated team of intermediary business development managers, with a branch network of 22 offices and 20 agencies in the South West, complemented by a customer contact centre based in Gloucestershire and website www.stroudandswindon.co.uk.