Five year savings bond paying up to 4.2% from Newcastle BS

Newcastle Building Society has launched the Newcastle Premier Bond (Issue 2) to enable savers to have penalty free access over a five year term, with notice, making it one of the best accounts in the savings market.

Newcastle Premier Bond (Issue 2) offers 4.2% (on interest paid annually) and penalty free access, subject to 180 days’ notice.

The product allows savers to invest for the medium term but with peace of mind that they can access their funds if they need to.

Steve Urwin, Sales and Marketing Executive, said: “With interest rates currently appearing to remain at a historic low we are finding that more savers are looking at longer-term investments where the rates are often better.

“The Newcastle Premier Bond (Issue 2) offers an attractive combination of a great interest rate and penalty free access, with notice.

“However, we’re also pleased that our product opens up the savings market a little to investors that want to get a great return, but traditionally could not lock away their money for long periods of time in order to get the top interest rates.”