Bond with the Newcastle

As many economists predict the Bank of England Base Rate will stay low for the foreseeable future, the popularity of longer-term savings products, such as Bonds, are expected to rise.

With this in mind Newcastle Building Society launched a competitive 4% three-year Member Loyalty Bond on offer for those that want a guaranteed return on their investment.

Bonds are low risk investments and by offering a competitive rate, which is fixed for a set period of time, it means savers can gain higher savings returns than other products in the marketplace.

Newcastle Building Society’s Sales and Marketing Executive, Steve Urwin, said: “While low interest rates are great for borrowers it may not be so good for savers. Therefore we wanted to reward our members by developing a solid Bond offering that would reward them with a competitive rate of return.

“This product builds on the increasing popularity of longer-term savings products and is an ideal choice if they don’t need to dip into their savings in the near future.

”As a mutual building society we believe in rewarding our members whenever possible by developing the best products for them.  The Bond was launched at our AGM and it has been has been well received with our members so far.”

The bond is exclusively available to existing members for new investments.