Newcastle Building Society launches fixed rate postal bond

Newcastle Building Society has announced the launch of its new one year fixed- rate postal bond, with a rate of 6.45 gross/AER on a minimum investment of £5,000.

The fixed-rate bond is available until 1st May 2009 and the account is operated by post.

Unusually for a one year fixed-rate postal bond at this competitive rate, the Society allows customers access to up to 25 per cent of the invested amount at any time, without notice or loss of interest.

Product highlights:

1 Year Fixed Rate Postal Bond at a rate of 6.45% gross /AER
Minimum/ Maximum Investment £5,000 - £500,000
Access available on up to 25% of invested amount without notice or loss of interest.
Maturity date 1 May 2009
The account is operated by post
Available now

Stuart Fearn, Head of Product Development, commented: "I am delighted to announce the launch of our Fixed Rate Postal Bond at an eye-catching rate of 6.45%. This bond provides savers with an attractive option to invest their money in, and the fact that it is secured in a fixed rate until May next year whilst providing some access to the investment, ensures that their money will be held at a competitive rate whilst offering a degree of access if circumstances change during the term. This is at a time when we continue to see the current base rate cutting agenda."