Newcastle Building Society launches 100% Access Postal Bond

Newcastle Building Society today announced the immediate replacement of its 100% Access Postal Bond (Issue 2) with the new 100% Access Postal Bond (Issue 3).

The bond offers a highly competitive fixed rate of 4.50% Gross/AER on a low minimum investment of £1,000 - only a 0.5 percentage point cut from the previous issue following today's rate cut by one percentage point. The fixed rate bond provides savers the opportunity to guarantee a fixed rate with access whilst market rates fall.

Product highlights:

Fixed Rate Postal Bond at a rate of 4.50% Gross/AER.
Minimum / Maximum investment £1,000 - £1,000,000.
100% access available, a minimum balance of £1,000 to be held in the account at all times to achieve advertised rate.
Maturity date 1 February 2010.
The account must be operated by post.
Available now, for a strictly limited period.

Steve Urwin, Senior Marketing Executive at the Newcastle Building Society commented: "The decision by the MPC today to reduce rates by a further one percentage point to a rate of 2.00% means the lowest base interest rate since 1951. The effect on savers will be significant and for those savers needing to guarantee a high return on their savings with the additional security of full access we have a very limited offer for them."

For further information, visit newcastle.co.uk