Combination Bond II

Overview

The Combination Bond II brings together two key elements. First, the peace of mind provided by a Norwich and Peterborough Combination Bond II savings account with regular year on year growth. Second, it gives the potential growth opportunity of an investment bond from one of three leading financial investment providers – AXA, Legal & General and Prudential.

What’s more, in the first year your money is in the Combination Bond II, we’d like to spoil you with a little bonus# – to give your savings the boost they deserve.

Manage your money on-line

With this account you have the ease and convenience of being able to check and manage your money on-line andhave access to your cash 24 hours a day, 365 days a year. Instant access to money in the Norwich and Peterborough Combination Bond II savings account.

Minimum Investment

£10,000
Up to 40% of your overall investment can be placed in a Norwich and Peterborough Combination Bond II savings account and at least 60% must go into an investment bond with AXA or L&G or Prudential.

Maximum Investment

£1,250,000
Up to 40% of your overall investment can be placed in a Norwich and Peterborough Combination Bond II and at least 60% must go into the investment bond with AXA or L&G or Prudential.

#Combination Bond II Bonus

The bonus is payable on the first-year anniversary of opening your account and will be based on the average daily balance during the first year. No bonus payable on the investment bond.

The more you invest, the more you could earn

The rate of interest your money will earn in the Norwich and Peterborough Combination Bond II savings account, part of your overall investment in the Combination Bond II, depends on how much money you invest in it.

When to take out a Combination Bond II

A Combination Bond II should only be considered if a Norwich and Peterborough Financial Adviser has reviewed your financial circumstances and identified a need for an investment bond. The Financial Adviser will help you ensure that you can access some of your money immediately and consider alternative investment options such as ISAs and Investment Bonds for the remainder.

Norwich and Peterborough Combination Bond II savings account

Minimum investment £4,000

This account pays interest on your savings annually, with interest calculated daily. Plus, you'll get a bonus payable on the anniversary of opening your account, which will be based on the amount in your account at the time.

If you need to access your money quickly, that's absolutely fine. You can make withdrawals without notice or loss of interest on the amount withdrawn.

Additional investments permitted after the first anniversary of opening your account. No bonus will be payable on the additional investment.

The AXA Investment Bond

	AXA Investment Bond
Investment split	60% of total in Norwich and Peterborough Combination Bond II
Term	Recommended minimum term: 5 years
Interest rate	N/A
First-year bonus	N/A
Minimum initial investment	£6,000*
Additional investments permitted	Yes. Minimum additional investment is £2,000
Maximum investment	£750,000*
Early cash in charges (% of amount cashed-in)	9% in year 1, 8% in year 2, 6% in year 3, 3% in year 4 and 1% in year 5.

* Although the minimum investment in an AXA Investment Bond is normally £5,000 with no maximum investment limit, a minimum of £6,000 and maximum of £750,000 apply to Combination Bond II.

The Legal & General investment bond

	Legal & General investment bond
Investment split	60% of total in Norwich and Peterborough Combination Bond II
Term	Recommended minimum term: 5 years
Interest rate	N/A
First-year bonus	N/A
Minimum initial investment	£6,000*
Additional investments permitted	Yes. Minimum additional investment is £5,000
Maximum investment	£750,000*
Early cash in charges (% of amount cashed-in)	7% in year 1, 6% in year 2, 5% in year 3, 4% in year 4 and 2% in year 5.

* Although the minimum investment in a Legal & General investment bond is normally £5,000 with no maximum investment limit, a minimum of £6,000 and maximum of £750,000 apply to Combination Bond II.

The Prudential Investment Bond

	Prudential Investment Bond
Investment split	60% of total in Norwich and Peterborough Combination Bond II
Term	Recommended minimum term: 5 years
Interest rate	N/A
First-year bonus	N/A
Minimum initial investment	£6,000*
Additional investments permitted	Yes. Minimum additional investment is £1,000 into the PruFund or £5,000 into the Flexible Investment Plan
Maximum investment	£750,000*
Early cash in charges (% of amount cashed-in)
Flexible Investment Plan – no initial charge – 3 year withdrawal option	9% in year 1, 7% in year 2, 5% in year 3
Flexible Investment Plan – initial charge – 3 year withdrawal option	6% in year 1, 4% in year 2, 3% in year 3
Flexible Investment Plan – no initial charge – 5 year withdrawal option	9% in year 1, 7% in year 2, 5% in year 3, 3% in year 4 and 1% in year 5.
Flexible Investment Plan – initial charge – 5 year withdrawal option	6% in year 1, 4% in year 2, 3% in year 3, 2% in year 4 and 1% in year 5.
PruFund Investment Plan	9% in year 1, 7% in year 2, 5% in year 3, 3% in year 4 and 1% in year 5.

* Although the minimum investment in a Prudential Investment bond is normally £6,000 with no maximum investment limit, a minimum of £6,000 and maximum of £750,000 apply to Combination Bond II.

Other information

Investment Bonds are designed to be a medium to long-term investment which can provide you with an income, potential for capital growth or both. Depending on the contract selected, you can withdraw between 4% and a maximum of 7.5% a year of the value of the fund without incurring any charges, within the first five years. After the first five years there are no early cash in charges (see above). The value of the bond, and any money you take to provide you with an income can go down as well as up and is not guaranteed. You may get back less than the amount invested. For further details, please see the appropriate provider’s Investment Bond Key Features Document

Norwich and Peterborough is authorised and regulated by the Financial Services Authority. The Society provides advice on regulated and non-regulated products. Member of The Building Societies Association.

AXA is a worldwide insurance group. In the UK one of AXA companies is AXA Sun Life Services plc. AXA Sun Life Services plc provides services to and represents only the members of the AXA Sun Life Marketing Group. Registered in England No 3424940. Registered office: 107 Cheapside, London, EC2V 6DU. The members of the AXA Sun Life Marketing Group are authorised and regulated by the Financial Services Authority for life insurance, pension and investment business. The telephone number of the AXA Communications Centre is 0845 3003171. As part of AXA’s commitment to quality service, telephone calls may be recorded. The address for written communications is AXA PO Box 1810, Bristol, BS99 5SN.

Legal & General Assurance Society Limited is authorised and regulated by the Financial Services Authority for advising on and arranging life assurance, pensions and investments. Legal & General Group PLC, Temple Court, 11 Queen Victoria Street, London EC4N 4TP. Registered in England no: 166055.

"Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. This name is also used by other companies within the Prudential Group, which between them provide a range of financial products including life assurance, pensions, savings and investment products. Registered Office at Laurence Pountney Hill, London, EC4R 0HH. Registered number 15454. Authorised and regulated by the Financial Services Authority.