Newcastle Building society has reviewed its fixed rate savings products, boosting rates by up to 0.50%.
Fixed Rate Option Bond Issue 106 now pays a market-leading 2.35% yearly (2.32% monthly) until 20.10.16 after enjoying a 0.50% increase. Meanwhile, Fixed Rate Option ISA Issue 106 pays 2.00% yearly (1.98% monthly) to the same date.
The two-year bond can be opened and operated in branch, by post and online with a minimum investment of £1. Like many fixed rate products, no early access is offered but further additions can be made while the issue is open.
The ISA requires an initial investment of £500 and can be conveniently opened and operated by post, in branch, by phone and online. It is possible to make further additions while the issue is open and transfers in from cash and stocks & shares ISAs are welcomed. Early access and transfers out are possible, but this will be on the loss of 120 days' interest.
Both of these products sit proudly within the Moneyfacts best buys charts, with the two-year bond topping the chart for its term. While early access is not possible, the bond is particularly attractive now that it has been bolstered by a 0.50% rate increase – something that is bound to attract the attention of investors. The small initial investment needed is also a definite bonus.
Four Moneyfacts Stars have been awarded.
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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