The Newcastle launches Bonus Saver Issue 2

Newcastle Building Society has introduced a competitive new product that allows penalty free access.

The Newcastle Bonus Saver ( Issue 2) , available as both a deposit account and a cash ISA, pays savers 3.05% Gross/AER variable (on interest paid annually), which includes an introductory bonus for the first 12 months.

The products also allow up to two withdrawals per year and are available to be opened in branch, online or by telephone with a minimum investment of only £1. The products also allow additional investments once opened, meaning the account is ideal for regular savers.

The ISA version also allows transfers from any cash ISAs held elsewhere, which is good for savers that want to maximise their returns.

Steve Urwin, Sales and Marketing Executive, at Newcastle Building Society said: “Savers, especially in this low interest rate environment, need to have flexibility and choice.

“Throughout this year we have aimed to do just that as we believe by having a good range of savings products (such as Bonds, easy access, internet accounts and ISAs) it allows savers to keep their options open.

”Our new Bonus Saver and Bonus ISA offer a rate, which combined with access, is one of the best in the market and the ISA product allows savers to maximise their interest too, thanks to the tax free allowance.

“The accounts are also set up to allow further investments, making this ideal for customers who wish to save each month to build up a nest egg for the future.”

For more information, visit newcastle.co.uk.