Newcastle Balance Builder ISA offers 3.40 per cent

Newcastle Building Society has launched its new Balance Builder ISA offering a return of up to 3.40% AER including a conditional bonus over 12 months to encourage regular ISA contributions in the New Year as savers look to invest ahead of the new tax deadline.

The Newcastle’s new Balance Builder ISA will offer a guaranteed rate of 2.00% Gross/AER plus a conditional bonus of 1.40% Gross for those who make at least nine monthly tax-free contributions of between £100 and £500 over the 12 month period.

ISA transfers are allowed and savers have the option to get easy access to their investments without penalty via telephone, online at newcastle.co.uk or via one of the Society’s 36 branches.

Steve Urwin, Senior Sales and Marketing Executive at Newcastle Building Society, said: “As some industry experts believe the Bank of England will leave interest rates unchanged for at least another year the Newcastle is delighted to launch the new Balance Builder ISA, which is six times the bank base rate.

“This new ISA is ideal for those who are looking to build up their Cash ISA tax free allowance which increases to £5,100 through regular contributions rather than one lump sum. In return they receive up to 3.40% AER including a 1.40% conditional bonus.”

For more information about the Newcastle’s latest accounts, visit newcastle.co.uk.