Newcastle launches 7% Fixed Rate Option Bond

Newcastle Building Society announced the launch of its new Option Bond, with a fixed rate of 7% Gross/AER on a minimum investment of £500.

The Fixed Rate Option bond is available from 23rd June 2008 and can be operated via branches, post, telephone and the internet.

Product details:

7% Gross/AER
Term: 26 months
Maturity date: 13 August 2010
Minimum investment £500
Maximum investment £1,000,000

Steve Urwin, Senior Marketing Executive, commented: "Newcastle Building Society is very pleased to announce the launch of its new fixed rate option bond with a market - leading rate of 7%. This account provides savers with a competitive and secure rate of interest and is a great opportunity for customers who do not require immediate access to their funds."