Newcastle launches new Secure ISA

Newcastle Building Society has announced the launch of a new best buy Secure ISA with a rate of 6.20%. This account is being launched to compliment the Newcastle's market leading ISA+ (Plus) account. With headline rates and differing options for withdrawal, these products are designed to offer customers the flexibility to transfer any past years ISA funds to an account best suited to their individual needs.

With the Newcastle, customers have the flexibility to:

Invest into Newcastle Building Society's Secure ISA and ISA+, up to £3,600 this tax year, PLUS transfer any previous ISA subscriptions held with other providers

Benefit from a best buy fixed rate of 6.20% with the Secure ISA, with a competitive 80-day notice period

Benefit from a great guaranteed variable rate of 6.00% with the Newcastle ISA+, with penalty free instant access

Operate either account in branch, by post, telephone or online

The Secure ISA is also available as a stand alone bond at the same rate

Newcastle Best Buy Secure ISA

Guaranteed rate of 6.20% gross/AER until 15 October 2009

Minimum/ Maximum Investment £500 - £3,600 (per current tax year)

ISA transfers in accepted

Withdrawals allowed subject to 80 days' notice

Interest credited to account on maturity (15 October 2009)

Newcastle ISA+

Variable rate of 6.00% gross/AER for balances over £3,000 with rate guaranteed to be no less than 0.50% above Bank of England base rate on balances of £3,000 and over until 18th June 2009

All rates will not fall below the Bank of England base rate until 18 June 2010

Variable rate of 5.50% gross AER for balances up to £3,000

Minimum/ Maximum Investment £1 - £3,600 (per current tax year)

ISA transfers in accepted

Unlimited withdrawals without penalty

Interest credited to account annually on 18 February and 18 June 2010

Steve Urwin, Senior Marketing Executive at Newcastle Building Society, commented: "Even though ISA savings surged by £13bn in the first half of 2008 compared to £6.1bn in same period in 2007, many people are still not taking advantage of their annual ISA allowance, which can be one of the smartest ways to save.

"We have launched our latest ISA product with customer needs in mind and we believe that the choice of features we now offer provide the flexibility that people require when considering the best place to keep their savings. Customers can decide which feature is most important for them; guaranteed high rates or instant access to their investments."

The ISA+ is currently available. Both the Secure ISA and Secure Bond are available from Monday 15 September.