Norwich and Peterborough Building Society (N&P) has announced the upcoming launch of its new Quantum Account on October 1st.
The new savings account offers competitive interest rates over the five-year period and provides savers the security of Quantum 17th Issue.
N&P's savings account offers a savings interest rate of four per cent gross per annum in the first year to September 30th 2006, rising to five per cent in the last year to September 30th 2010.
Gary Lacey, N&P's group product manager, says: "This is the 17th issue of our popular Quantum Account - proof that customers like the concept of interest rates which are guaranteed to rise each year.
"Our customers also like the flexibility of Quantum which allows them to take out their money, provided they give 90 days' notice. Most escalated-type accounts have much more stringent withdrawal conditions."
To open the savings account a minimum investment of £1,000 is required and a maximum amount of £25,000 per person can be inveted.
N&P is the UK's 14th largest building society with over 50 branches and assets of £3.26 billion.
Society launches new savings account
Society launches new savings account
Tue, 27 Sep 2005
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