Fixed rate rolling savings bond (issue 21)
A guaranteed fixed rate of interest to 30 June 2012 when you invest a minimum of £5,000 or more.
Interest rates - Marsden Fixed rate rolling savings bond (from 28 May 2010)
| Balance | Gross | AER | Net |
|---|---|---|---|
| £50,000+ | 3.05% | 3.05% | 2.44% |
| £25,000+ | 2.85% | 2.85% | 2.28% |
| £15,000+ | 2.65% | 2.65% | 2.12% |
| £5,000+ | 2.50% | 2.50% | 2.00% |
| Key features | |
|---|---|
| Interest rates: | See above, rates are fixed to 30 June 2012 |
| Tax status: | Interest normally paid net after deduction of income tax or gross subject to certification |
| Conditions for bonus payment: | N/A |
| Withdrawal arrangements: | No withdrawals allowed prior to maturity |
| Access: | Phone or post |
| Limited issue: | This product may be withdrawn without notice at any time. Once the product is withdrawn, no further applications will be accepted. |
| Minimum opening balance: | £5,000 |
| Maximum investment: | £250,000 single £500,000 joint |
| Eligibility: | Customers aged 18+ |
| Interest payment: | Interest calculated daily and paid annually on 30 June 2011 and on maturity 30 June 2012 |
| Additional investments: | No additional investments allowed prior to maturity |
| Access to funds before maturity: | Account closed, full balance withdrawn and you will incur an interest penalty equivalent to 120 days' interest. |
| Record of investment: | No passbook will be issued. On opening the account you will receive a receipt and an Investment Certificate will be posted to you |
| Maturity: | The rolling bond is designed to run continuously. We will contact you at least 14 days prior to maturity to advise you of the interest rates applicable. At maturity you will be able to add to your investment, make a partial withdrawal or close the bond. |
|
Payment account: |
No |
To view the fixed rate rolling savings bond terms & conditions, please click here
To view the general savings account terms & conditions, please click here
Gross means the contractual rate of interest payable not taking account of the deduction of income tax at the appropriate rate.
Net rates are illustrative only and allow for deduction from gross rate of income tax at the specified rate i.e. assuming rate of income tax at 20%.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
