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eMoneyfacts Savings Club offers Newcastle structured product

eMoneyfacts Savings Club has revealed that Newcastle Building Society has been added to its panel of savings providers.

From June 11, Newcastle Building Society will offer two accounts to intermediaries; one four-year guaranteed capital performance account at 3.78 per cent AER if the FTSE 100 is the same level or above its strike level at maturity and a one-year fixed rate bond at 3 per cent AER.

Intermediaries will receive 2.5 per cent of the opening balance of the capital performance account and 0.15 per cent on the opening balance of the one-year bond.

Newcastle intermediary services executive Steven Marks says: “The eMoneyfacts Savings Club is a natural extension of the services we provide through Newcastle. This will give more intermediaries the opportunity to conduct savings business with us and to earn much needed commission.”

eMoneyfacts head Ed Payne says: “I’m delighted that we have been able to add Newcastle to our panel of providers. This is the first time we have been able to make a structured product available. With the help of Newcastle we are continuing to widen our panel and make more products available to help intermediaries to diversify in this challenging market.”

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