Newcastle launches new 5% savings products

Newcastle Building Society is continuing to top the best buy tables with the launch of a new fixed rate bond offering up to 5.00% Gross/AER over five years, available from 1 July 2009.

It is also extending availability of its popular Five Year ISA (Issue 1) with a fixed rate of 5.00% Gross/AER, which remains a limited issue.

The Society’s Five Year Fixed Rate Bond (Issue 1) is available to savers who wish to invest from £5,000 and receive 5.00% Gross/AER annually, or at a rate of 4.85% AER with the monthly income option.

Both the bond and the ISA allow unlimited withdrawals (or transfers out) of funds at 90 days’ notice and without penalty.

Steve Urwin, Senior Marketing Executive at Newcastle Building Society said: “We’re really pleased to be offering even more savers the chance to benefit from this best buy rate. As expected, the ISA product has been extremely popular, so we’re extending its availability to meet demand.

“Both accounts provide the flexibility of access with a notice period, should customer circumstances change, but we will continue to credit interest until the money actually leaves the account.

“As best buy products, we’re expecting both to be very popular and we’ve worked hard to ensure account opening and ISA transfers run as smoothly as possible.”

For more information, visit newcastle.co.uk