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Reward Saver
Up to 2.75% Gross/AER*
An attractive rate with a reward bonus
If you're looking for an account with an attractive rate of interest and a reward bonus, you might be interested in our Reward Saver. The Reward Saver pays a bonus of 1.00% on the 1st anniversary of your account opening, so you can sit back and let your savings grow.
Choose to have monthly interest
The Reward Saver lets you choose how you'd like your interest to be paid. As well as annual interest, you can opt for monthly interest if you require a regular income from your savings.
Is this account right for you?
If you're still wondering which savings account is right for you, our friendly advisers will be happy to help. Simply pop into your local branch or call 0845 600 4368.
Product Terms
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Summary Box Key Product Information for our Savings Account
| Account Name |
Reward Saver |
| Interest Rates |
|
Including Bonus |
Excluding Bonus |
| |
Annual Variable |
2.75% Gross/AER* |
1.75% Gross/AER* |
| |
Monthly Variable |
2.66% Gross/
2.69% AER* |
1.66% Gross/
1.69% AER* |
| Tax Status |
Interest will be paid after the deduction of income tax at the appropriate rate unless you request otherwise. |
| Conditions for bonus payment |
This account includes an unconditional bonus of 1.00% for the first 12 months from Account opening date. |
| Withdrawal arrangements |
Withdrawals are subject to 120 days notice or loss of interest |
| Access |
By branch, post, telephone or online. |
| |
Additional Important Information |
| Interest Payment |
Anniversary of account opening or last business day of each month |
|
Annual |
Monthly |
| Minimum Balance |
£500 |
£5,000 |
| Maximum Balance |
£1,000,000 |
Product Special Conditions
The Newcastle's General Investment Terms & Conditions will apply unless they are inconsistent with these Special Conditions, effective from the date of the account opening.
- The account is a variable rate account with an unconditional bonus paid for twelve months from account opening.
- The account can be operated by branch, post, telephone or online.
- The minimum investment in the account is £500 the maximum is £1,000,000
- The Account can be held in single or joint names.
- After placing your Investment in the account you may make further deposits while the Account is a current issue. The account is strictly limited issue and may be withdrawn at any time.
- Interest is calculated daily and credited to the account on the 'Anniversary', or the last business day of each month.
- Withdrawals are available subject to 120 days notice or loss of interest.
- The account is not available to non UK residents.
- 'Anniversary' means twelve months from the date of opening and each subsequent twelve month period.
- The bonus on your account is calculated daily and will be paid annually on the account anniversary or monthly on the last working day of each month.
- Details correct at 30/04/2010
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How it works
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What is the Reward Saver account?
The Reward Saver Account is designed for anyone looking for attractive interest rates, but does not need immediate penalty free access to their funds. It is always best to discuss your investment options with a professional. We can arrange an appointment with a Personal Financial Manager from our subsidiary company, Newcastle Financial Services Limited (NFSL). If you'd like a no obligation appointment, please visit your local branch or call 0845 600 5159. Your Account can be cancelled within 14 calendar days of opening without penalty.
What about interest?
The interest rate payable on this account is variable and outlined in the Product Terms. Interest on the Basic Savings Account version of the Reward Saver can be paid annually or monthly and can be paid in the following way:
- Credited to the Account
- Credited to third party bank or building society Account
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* 'Gross' interest is the contractual rate of interest payable before the deduction of income tax. 'AER' means "Annual Equivalent Rate" and is a notional rate which illustrates the contractual interest rate (excluding any bonus payable) as if paid and compounded on an annual basis.
