Newcastle savings account targets over-55s
www.moneynews.co.uk > General finance > Newcastle savings account targets over-55s
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Money News |
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Newcastle savings account targets over-55s
Tue 31st May 2005
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The new Newcastle 55 Base Rate Tracker account is an easy-access passbook account especially designed for people aged 55 and over.
It is available as a direct investment bond or as a mini cash ISA, and Newcastle guarantees that its interest rate will track the base rate, currently at 4.75 per cent, until April 5th 2010.
Investors will have instant access to their money and accounts can be opened with a minimum investment of just £1.
A monthly interest option is available at a reduced rate of base rate less 0.25 per cent, with a minimum balance of £1,000.
Steve Urwin, head of marketing and new media at Newcastle Building Society, said: "We believe our new Newcastle 55 account is a fantastic option for anyone over 55. We also recognise that not everyone has significant amounts to save, which is why we have made the minimum investment £1.
"Both versions of this account offer easy access to the money invested as well as a guaranteed and highly competitive interest rate, making it a great vehicle to save regularly."
"Offering these features in a passbook account offers customers flexibility - whether they are saving for something special like a holiday or for a more long-term goal like retirement."
Related News : General finance |
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