NewcastleNet online account to be launched

Newcastle Building Society will launch its new online account aimed at those wishing to gain instant access to their money.

The NewcastleNet account offers customers a rate of 4.9 per cent and has a minimum balance of £1.

Customers can choose to have their interest paid annually or monthly either into the NewcastleNet account or to a third party account.

Steve Urwin, head of marketing and new media at Newcastle said: "We feel it should appeal to investors looking for a straight-forward online account offering an extremely competitive rate of interest."

The account is available from October 14th and customers are urged to apply early as the NewcastleNet account is only available for a short period of time.