Savings: Newcastle Building Society launches new charity savings bondNewcastle Building Society has launched a new Individual Savings Account (ISA) to support the ‘Sir Bobby Robson Foundation’.

Charity savings bonds, particularly the Coventry Building Society’s Poppy Accounts, have become increasingly popular and given Sir Bobby’s iconic status in the north east the ‘Sir Bobby Robson Foundation ISA ’ should be no different.

Interest rate on ‘Sir Bobby Robson Foundation ISA’

The ‘Sir Bobby Robson Foundation ISA’ will be available with an initial deposit of just £1 and will pay an interest rate of up to 2.6%. Savers will also be able to transfer in their existing Cash ISAs.

The Sir Bobby Robson Foundation, which focuses on the early detection of cancer and clinical trials of new drugs, will receive 0.1% of the average balance held in the ISA.

The ISA will pay 2.60% gross AER for annual interest payments or slightly lower if monthly interest is required.

The ISA allows instant access to savings and the account can be managed online, by post or in a branch of the Newcastle Building Society.

More information about the ‘Sir Bobby Robson Foundation ISA’ can be found by clicking here .

Best Cash ISA interest rates

Although the ‘Sir Bobby Robson Foundation ISA’ won’t be at the top of the best buy savings accounts savings experts believe that savers will open the ISA for other reasons; supporting the Sir Bobby Robson Foundation will be a compelling reason for many savers to open the account, especially in the north east.