With the new Fixed Bond (Issue 2) intermediaries can offer customers a fixed rate of 3.25% Gross/AER until maturity on 17 May 2011, with a minimum balance of £5,000 and maximum investment of £250,000. Fixed Bond (Issue 1) is a one year version of the account with a maturity date of 17 May 2010 and an annual interest rate of 3.00% Gross/AER. Savers also have the option to receive interest on a monthly basis at a lower rate.
These Fixed Rate Bonds give savers the opportunity to invest their money in an account paying a competitive fixed rate of interest, whilst at the same time ensuring their savings are secure until the end of the term. Independent Financial Advisers and intermediaries will also benefit from these bonds which offer generous upfront commission rates of up to 0.35%.
Steven Marks, Intermediary Services Executive at Newcastle Building Society said: “Our Fixed Rate Bonds have proved very popular on the high-street with Newcastle Building Society customers and that is why we have made these additional products available to the intermediary market.
“We believe that the competitive commission we are offering, combined with these attractive rates, beat other deals currently available to intermediaries.
“Newcastle IS offers a portfolio of products which are aimed at IFAs and intermediaries of all sizes with the unique offering of www.newcastleis.co.uk. The site allows you to submit online applications, staged application and commission tracking, online client valuations, a sales toolkit, literature library and an online ordering system, all designed to provide advisers with a fully functional and reliable service.”
For more information please contact Newcastle IS on 0845 603 9299, e-mail [email protected] or visit www.newcastleis.co.uk.
Product details:
One Year Fixed Rate Bonds
- 3.00% Gross/AER annually
- 2.75% Gross/ 2.78% AER monthly
- Maturity Date: 17th May 2010
- No access until maturity
- Min/Max Investment £5,000/£250,000
- Operated via post and telephone
Two Year Fixed Rate Bonds
- 3.25% Gross/AER annually
- 3.00% Gross/ 3.04% AER monthly
- Maturity Date: 16th May 2011
- No access until maturity
- Min/Max Investment £5,000/£250,000
- Operated via post and telephone
For further information please contact:
Richard Hall, PR assistant
Newcastle Building Society
0191 244 1522
About Newcastle Building Society
Newcastle Building Society is the biggest building society based in the North East and one of the strongest mutual building societies in the country. With assets under management of over £5.09bn we are certainly large enough to cope but small enough to care deeply about the needs of our members. We are committed to providing a range of innovative and attractive products and services.
