Newcastle Building Society has launched a new account for people who want to start saving money.
The Newcastle Net Issue Four is an instant access investment account which is available online.
Starting today, those hoping to start saving money can deposit the minimum investment of a pound in this investment account. The maximum balance is a million pounds.
The investment account offers a savings interest rate of 4.9 per cent.
"This is a highly attractive new instant access account to add to our comprehensive range," said Steve Urwin, marketing head at the society.
Investment account holders with a minimum balance of £1,000 could have their interest calculated on a monthly basis. The savings interest rate for monthly interest will be set at 0.15 per cent lower than the gross savings interest rate.
Interest earned on this investment that is credited on a yearly basis will be paid into to either another Newcastle banking account or a banking account with another bank or building society.
Mr Urwin pointed out that this investment account is a limited offer: "We would encourage all investors to apply early as it is only available for a limited time."
Fourth issue launched of online investment account
Fourth issue launched of online investment account
Fri, 14 Oct 2005
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