Norwich and Peterborough Building Society is launching an account offering guaranteed interest rates...
Norwich and Peterborough Building Society is launching an account offering guaranteed interest rates which rise each year to reach 8.5% after five years.
The Quantum Account offers a rate of 5.5% up to 31 January 2001 and a rate of 6% between this date and the end of January 2002.
The rate then rises to 6.5% paid up to 31 January 2003, after which it moves up to 7% until the end of January 2004. A rate of 8.5% is paid after this date up to 31 January 2005.
The minimum investment is £5,000 and the maximum investment per person is £25,000. For joint accounts the maximum investment is £50,000. Interest is paid annually in January.
To withdraw money without a penalty there is a notice period of 50 days, otherwise there is a penalty of 50 days' interest.
Contact: 0800 883322
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From 1 March