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News: A Quantum savings leap by N&P?

Norwich and Peterborough Building Society (N&P) is to launch the 17th issue of its Quantum Account on October 1st - the account paying 4.00% gross pa (to September 30th 2006); 4.10% (to September 30th 2007); 4.25% (to September 30th 2008); 4.50% (to September 30th 2009) and 5.00% (to September 30th 2010).

Minimum investment is £1,000, maximum investment £25,000 (£50,000 for a joint account). Only one Quantum account per person may be opened.

Interest, which is paid annually in January (AER 4.37%), can be added to the account, to another society account or one held with another provider.

Penalty-free withdrawals are subject to 90 days' notice or easy access with the equivalent of 90 days loss of interest on the amount withdrawn. Quantum can be accessed by all customers online.

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