Newcastle Building Society Launches Competitive Fixed Rate Savings Products

A range of competitive savings products have been launched in a bid to help investors make the most of their money.

Newcastle Building Society (NBS) has launched a Best Buy two year fixed rate bond paying up to 2.35% gross*/AER** if interest is paid annually. It comes with no access until 20th October 2016. The product is ideal for those customers looking to achieve a competitive rate over the next two years. The product can be applied for via post, online and in any of the Society's branches.

Additionally, the Society has introduced an ISA version of the product. The Newcastle Fixed Rate ISA (106) is fixed for two years and pays up to 2.00% gross*/AER** if interest is paid annually. It comes with 120 penalty notice for any withdrawals but with many providers' products coming with 180 days penalty, this product offers more flexibility than some on the market.

Lastly, a five year Fixed Rate Options Bond /ISA 103 has also been added to Society's savings portfolio. It pays a rate of up to 2.85% gross*/AER** if interest is paid annually. The product is available online, within the branch network or via post and ISA transfers are allowed. The account can be opened with as little as £1.

Steve Urwin, Sales and Marketing Executive at NBS, said: “The aim in launching these products is to give savers choice. There are some that prefer to fix for a shorter term such as two years but the five year product, at a higher rate of interest, is ideal for those that don't need access to their money before the term's end.”

Please find Notes to Editors attached in PDF format.

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