Newcastle Building Society has announced the launch of a new passbook savings account.
The Sixty Day Saver offers an introductory savings interest rate of 5.25 per cent for the first six months.
After this initial period, the savings interest rate is guaranteed to never drop below 0.25 per cent under the Bank of England interest rate.
The savings account is available as a savings bond and an individual savings account (ISA).
A minimum investment of £500 is required to open the savings account and up to £1 million can be invested.
This new savings account is said to be ideal for those who would like to earn a high savings interest rate, while not making regular withdrawals, according to the society's marketing and new media head, Steve Urwin.
"We feel this account strengthens our range of investments and will follow the success of our recently launched Newcastle 55 Base Rate Tracker, for people aged 55 and over," he adds.
The savings account can be opened at any Newcastle branch, online or via the society's contact centre.
Passbook savings account launched
Passbook savings account launched
Fri, 09 Dec 2005
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