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Ipswich Building Society has launched a chart topping 5 year, 5.1% fixed interest rate savings bond for consumers who have renewed confidence in longer term investments.
The highly competitive ‘Big Bond’ has the added advantage of giving access to funds after two years, providing investors with greater assurance.
Jo Leah, General Manager, Sales and Marketing, Ipswich Building Society, says: “This is a very feisty 5 year savings bond for savers who have their sights set on a longer term goal. It has the added flexibility of giving access after two years which makes it one of the most attractive offers in the marketplace at the moment.”
The minimum investment is £5,000 (maximum £100,000) and the limited edition Big Bond is only expected to be available until the end of November.
The 5.1% gross/AER fixed interest (4.08% Net) is paid annually on the account’s anniversary, or monthly if the balance is over £25,000. No withdrawals are permitted for 2 years and thereafter any withdrawals incur a 180 days interest penalty on the amount withdrawn.
To find out more about the Big Bond savings account telephone 0845 230 8686 or email enquiries@ibs.co.uk Big Bond can be opened by post or at any Ipswich Building Society branch. See www.ibs.co.uk
Ipswich Building Society is in a strong position with ambitious plans for the future, says its chief executive, who has responded to a report by accountants KPMG which said UK building societies ‘face challenges around profitability’ and will need to cut costs.
Paul Winter, Chief Executive, Ipswich Building Society, who was interviewed for BBC TV’s The Politics Show, which was broadcast on 13 September, has spoken out in response to the annual Database produced by KPMG about the future of the UK’s 53 building societies.
He says: “The executive summary in KPMG’s report created headlines that aren’t borne out by the figures. At Ipswich Building Society we are very positive about our future profitability and growth.”
On the strength of its performance in 2009 Ipswich Building Society has revised its Corporate Plan and aims to grow its total assets from £450 million to £550 million by the end of 2010.
Paul Winter added: “We have an excellent branch network and a contact centre to support customers who live across the UK but particularly in our heartland of the East of England, so we have the infrastructure in place to support our continued growth and success. We also have strong customer loyalty and simple, transparent products which people understand and trust.”
Ipswich Building Society achieved a 55% increase in receipts in savings and investments in the first half of this year, compared to the same period in 2008. Its mortgage applications have soared and the Society is one of few to open a new branch (in Sudbury, Suffolk) in the midst of recession.
For further information about Ipswich Building Society telephone 0845 230 8686 or visit the website at www.ibs.co.uk
Confidence in the economy is low, but Ipswich Building Society is bucking the trend. It has reported a staggering increase of 80% in its mortgage applications (July 09 v July 08), whilst building societies overall have seen the number of applications reduced.
The dramatic increase in Ipswich Building Society’s mortgage lending is mirrored in its success at attracting new deposits in savings accounts. The industry as a whole has continued to see higher withdrawals than receipts from accounts, whereas Ipswich Building Society's half year results for 2009 show an increase of 55% in positive net receipts, compared to the same period in 2008.
Paul Winter, Chief Executive, Ipswich Building Society, said: “The current financial climate means people will be naturally nervous and as well as competitive products, they need reassurance. Unlike most lenders, we empower our employees so they can follow through each mortgage or new account request, giving customers the confidence of dealing with just one individual, as well as having prompt and efficient service.”
He added: “There is a return by the public generally to appreciating the benefits of locally based financial organisations who they can develop a relationship with and trust. Our own research backs this up.”
Ipswich Building Society undertook brand research with 400 customers and non-customers in April this year, which showed trust and quality of service as the two most important factors in choosing a financial institution.
For further information about Ipswich Building Society telephone 0845 230 8686 or visit the website at www.ibs.co.uk
You would love a new sofa, your wife wants a new designer handbag and the kids are crying out for a holiday. But you don’t want to put more on the card. Today’s society is full of ‘must haves’ but a culture of ‘buy now, pay later’ has created a mountain of credit card debt and a financial meltdown in the economy which everyone wants to move on from.
One building society is taking things back to basics and helping people to learn how to save again. Ipswich Building Society has launched ‘Smart Save’ which encourages you to set yourself a target, save a bit regularly towards something special, then sit back and watch your account grow. After all, it’s always easier to save when you have an incentive.
Paul Winter, Chief Executive, Ipswich Building Society, says: “Smart Save is simple and transparent and you can see exactly how much your regular savings will add up to. We are encouraging people to plan their purchases and learn how to save again. It gives you the satisfaction of buying yourself something with your own money, rather than worrying about repaying a debt.”
Smart Save is a simple savings account where you make variable monthly direct debit savings of between £10 and £500. There’s a variable interest rate calculated on a daily basis and an annual bonus of 3.00% paid on the account’s anniversary if you have made 11 monthly payments. You can even make one penalty free instant access withdrawal per year.
So if you know you’d like to plan for a home improvement, a dream wedding or your son/daughter’s University education, then Smart Save will help you get going. Why not aspire to and save for your dream purchase and avoid the worry of credit card debts or hefty interest rates on loans or finance deals.
For more information about Ipswich Building Society’s Smart Saver account, visit www.ibs.co.uk
