Newcastle launches five year bond and ISA at 4.20%

Newcastle Building Society has launched the ‘Fixed Rate Options Bond (Issue 57)’ paying an attractive 4.20% Gross/AER over a five year period.

The bond offers savers the opportunity to invest with a return of 4.20% Gross/AER and the straightforward nature of this fixed rate means savers know exactly what they’ll receive at the end of the term.

This account is also available as an ISA (Fixed Rate Options ISA - Issue 57), which permits transfers of previous years’ ISA subscriptions from other ISA providers, which allows investors to make the most of all their tax efficient savings. With the ISA version of the product savers also have access to their money, if they wish, subject to 120 day’s penalty.

The product can also be used as part of the Society’s award-winning MaximISA™ service, which gives savers increased flexibility with their savings allowing them to open more than one Cash ISA product with the Newcastle each year.

Steve Urwin, Sales and Marketing Executive, said: “With interest rates currently remaining at an all time low members are looking at longer-term investments where the rates are often better. In light of this, the products we’ve launched are great for people looking for longer-term investments with a competitive rate, while perhaps taking advantage of the new cash ISA allowance of £5,340.

“This can be complemented by our MaximISA service, which provides a more flexible way of saving. Gone are the days when you can only take out one ISA product; you can now pick and choose a range of cash products that suit your circumstances.”

For more information, visit newcastle.co.uk.