Newcastle Building Society bond launched

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Newcastle Building Society bond launched

Fri 12th Sep 2008

A new Secure Bond has been launched by the Newcastle Building Society.

The Newcastle Building Society bond offers a fixed rate of 6.2 per cent gross and is available for investments between £500 and £1 million.

Withdrawals can also be made for up to 25 per cent of the invested capital.

The bond can be operated in branches, online, by post or by telephone.

Interest is credited to the account on its maturity on October 15th 2009, or on a monthly basis.

Rates are lower on the latter option.

Steve Urwin, senior marketing executive at the society, said that the "flexibility" on withdrawal was an attractive feature.

Yesterday, Abbey announced that it was launching new bonds for children and people over 50, as well as a new fixed-rate bond.

The Children's Saving Bond is aimed at people wanting to save for a child's future.

It is available for savers under 18 and offers a guaranteed fixed rate over a four-year term.

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