An online investment savings account that offers investors instant access to their funds has been launched by Newcastle Building Society.
The fourth issue of the NewcastleNet savings account offers a savings interest rate of 4.9 per cent gross variable.
Interest is paid yearly into the NewcastleNet savings account or a third party savings account.
A balance of £1,000 is needed if savings account holders want to receive their interest on a monthly basis. Should interest be taken every month, a savings interest rate of 4.75 per cent applies.
This "highly attractive" savings account is expected to be particularly popular among investors looking for a straightforward online savings account that offers an "extremely competitive" interest rate, says Steve Urwin, the head of marketing and new media at the society.
"We would encourage all investors to apply early, as it is only available for a limited time," Mr Urwin adds.
The savings account can be opened with a minimum balance of £1.
Instant access savings account launched
Instant access savings account launched
Thu, 01 Dec 2005
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