Newcastle Building Society has launched a new saving offer, the Sixty Day Saver Account.
The Sixty Day Saver is a simple passbook account, with an introductory best saving account rate of 5.25 per cent for a six month period.
After this time, the account is guaranteed to pay no less than 0.25 per cent below the Bank of England base rate.
The Sixty Day Saver is available as both a bond and an ISA. The name of the product refers to the notice period required for withdrawals.
The minimum investment is £500, with a maximum amount of £1,000,000.
“Our new Newcastle Sixty Day Saver is an ideal savings account for anyone wishing to put money in a high interest savings account without wanting to make regular withdrawals,” said Steve Urwin, head of marketing at Newcastle Building Society.
“Savers can also now benefit from the guarantee that the interest rate will never fall lower than 0.25% below the Bank of England base rate
“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.”
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