Newcastle Children's Saver

If you’ve got money sitting in a piggy bank – don’t keep it bottled up. If you put it in a Children's Saver account, it could be earning you money every month and before you know it, you’ll be quids in. While school and exams can be hard, saving doesn’t have to be. By popping some money into your savings account little and often, you could have a tidy sum of money that you can spend on whatever you want.

1.65% GROSS/AER*

Summary Information

Summary box
Account Name Newcastle Children's Saver
What is the interest rate?

Annual Gross pa*/AER** 1.65%/1.65% (Variable)

Interest is paid on

The interest is calculated daily and will be paid into your account annually on 30th June each year.

Can Newcastle Building Society change the interest rate? We can change the rate of interest payable on this account. The account is a variable rate account which means that the rate of interest paid may change throughout the lifetime of the account. Please refer to section 3 of the Savings General Terms & Conditions which sets out the reasons for which Newcastle Building Society may change the interest and the procedure for doing so.
What would the estimated balance be after the first 12 months of account opening based on a £200 deposit? Annual (Variable)

£2,418

This projection is based on an initial £200 deposit and 11 further monthly deposits of £200 and no withdrawals are made.

Please note: This projection is provided for illustrative purposes only and does not take into account customer’s individual circumstances.
How do I open and manage my account? Opening your account
In branch only.
Giving us instructions for your account
In branch, by post or by telephone.

Minimum Opening Deposit: £1
Maximum Opening Deposit: £500

Minimum Monthly Deposit: £0
Maximum Monthly Deposit: £200

Minimum Account Balance: £1
Maximum Account Balance: £25,000 (plus any resulting interest)

Can I withdraw money? Withdrawals/transfers can be made penalty free without notice. Any withdrawals from the account can only be repaid in accordance with the maximum monthly subscription limit.
Additional information

Tax Status:  Interest will be paid gross* which means no tax is deducted. It is your responsibility to pay any tax due, based on your individual circumstances.

Any Deposits made in to this account must be paid in by 6pm on the last day of the Calendar Month to be included within the Deposit limits of that Calendar Month. Any Deposits paid in after 6pm will be included within the following Calendar Month’s Deposit limit.

Terms and Conditions

Please make sure you've read the terms and conditions before applying

Ways to Apply

Branch

Visit your local branch with proof of identity and residence and we'll open the account for you.

Alternatively if you would prefer to discuss the account in more detail first, then please make an appointment.