Newcastle Building Society: Individual savings account launched

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Newcastle Building Society: Individual savings account launched

Fri 5th Dec 2008

Newcastle Building Society's will launch a new individual savings account (ISA), it has been announced.

The new ISA+, as it will be called, will offer a gross AER of 4.5 per cent on balances of over £3,600 and a gross AER of four per cent on savings under that figure.

According to the building society, the new account will allow savers to access their money at any time without suffering financial penalties and the bank guarantees that its rates will stay above the Bank of England's base rate until at least 2011.

Steve Urwin, senior marketing executive for Newcastle Building Society, said: "Our new ISA+ offers a great overall proposition for customers to grow their savings tax free, with the ability to transfer any other existing ISA balances."

Earlier this month Leeds Building Society also announced the launch of a new ISA.

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