Newcastle launches Direct Saver Plus savings account

Newcastle Building Society’s (NBS) latest addition to the easy access savings marketplace is expected to prove popular.

The new Direct Saver Plus is a straightforward savings account that pays a competitive rate of 2.35% Gross/AER (if interest is paid annually), with no introductory bonus and comes with easy access (withdrawals are allowed up to four times each year).

It can be opened with as little as £1 within any one of the Society’s 31 UK branches or its Newcastle based call centre. Once opened the product can be managed via either the branch network or by post.

Steve Urwin, Sales and Marketing Executive, at NBS said: “Investors need a wide choice in savings accounts to help them find what works best for them so we’re pleased to launch our new Direct Saver Plus, which helps them do just that. The new product offers a good return combined with a flexible access feature.

“This bolsters our wider product range that gives our members choice in how they would like to manage their money, which can in turn provide a bigger incentive to save.

As an alternative to the Direct Saver Plus, the Society also offers the ‘Newcastle Super Saver’, which offers a 3% gross/AER rate (on interest paid annually) and has a notice free withdrawal facility (subject to 60 days penalty) and is available as both a deposit account and an ISA.

For more information, visit newcaslte.co.uk.