Newcastle Fixed Rate Options Bond (Issue 78)

The Newcastle's Savings General Terms & Conditions will apply unless they are inconsistent with these Special Conditions, effective from the date of the account opening.

1. The Account is a fixed rate account.
2. The Account can be operated in branch, by post or online.
3. The minimum investment in the Account is £500 the maximum is £500,000.
4. The Account can be held in single or joint names.
5. After placing your Investment in the Account you may make further deposits while the Account is a current issue. The Account is a limited issue and may be withdrawn at any time. The Account is therefore not suitable for regular investments.
6. Withdrawals / transfers can be made of up to 25% of the capital investment penalty free and without notice, prior to maturity (18 December 2015). Withdrawals in excess of 25% of the capital investment are not permitted until maturity.
7. On maturity the Account will automatically transfer to the Newcastle’s designated maturity Account. We will write to you prior to maturity to advise you of any amendments to the Terms and Conditions of your Account. These amendments may include access terms, withdrawal arrangements and the duration of the Account. Following the day of maturity you have 28 days in which to withdraw funds penalty free, thereafter the Maturity Account Terms & Conditions will apply. For the avoidance of doubt closure of the Account or transfers to another account with the Society or to another provider are classed as withdrawals
8. Interest is calculated daily and is paid on 18 December 2013, 2014 and on maturity (18 December 2015) or monthly
9. Should the final day of a calendar month be a business day then any monthly interest paid to a third party will be paid on that day. Otherwise it will be paid on the following business day. Any final monthly interest due on maturity will be credited to the Account.
10. If any monthly interest payable is less than £1, it will not be paid away to a third party bank or building society
11. Interest can be paid to your Account, to another account with the Newcastle or to a third party bank or building society account.
12. Should the balance held in the Account fall below the Minimum Balance stated above, interest will be paid at 0.10% Gross*/AER**
13. Details are correct as at 7 November 2012.