Newcastle Easy Saver (Issue 5)

Newcastle Easy Saver (Issue 5)

Annual interest (variable)

2.70% gross pa/AER
Interest is paid on: Annual anniversary of account opening.

Monthly interest (variable)

2.67% gross pa/2.70% AER 

Interest is paid on: Monthly anniversary of account opening.

We can change the rate of interest payable on this account.  The account is a variable rate account which means the rate of interest paid may change throughout the lifetime of the account. Please refer to the ‘Interest, Charges and Changes’ section 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.

Monthly (Variable)
£1,027

Annual (Variable)
£1,027

Please note: This projection is provided for illustrative purposes only and does not take into account the customer's individual circumstances. This projection is based on an initial £1,000 deposit and no further deposits or withdrawals are made. 

Opening your account
In branch or online. For existing online customers you can log into your Newcastle Building Society account online.

Giving us instructions for your account
In branch, by post, by telephone, by secure message (for accounts opened and operated online).

Minimum Opening Deposit: £1

Maximum Opening Deposit: £250,000

Maximum Account Balance: £250,000 (plus any resulting interest)

Withdrawals/transfers can be made penalty free without notice.

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

Charitable Donation: A donation of £1 will be made to the Community Foundation, to be held as part of the Newcastle Building Society Community Fund for each Newcastle Easy Saver opened. The donation will be paid providing at least £100 has been deposited in the account and the balance has remained at £100 or above for 6 months following the account opening date. Only 1 donation will be made per customer for example, if 2 accounts are opened only £1 will be donated. The payment to Community Foundation will be made annually for new accounts opened in the last 12 months.

Reimbursement of Authorised Push Payment (APP) fraud

From 7th October 2024, new regulations strengthen protection for customers who suffer financial losses due to Authorised Push Payment (APP) Fraud. If you make a payment on or after 7th October 2024, as result of APP fraud, you may be eligible for a refund. Further information about your reimbursement rights is available on our website at https://www.newcastle.co.uk/authorised-push-payments.

Transferring Windfalls to Charity

All new customers agree to assign any windfall benefits which they may become entitled to on a future conversion or takeover of the Society to the Community Foundation. This is our Charitable Assignment Scheme. By agreeing to this assignment, any windfall benefit will be given to the Community Foundation, one of the leading community foundations in the UK serving Tyne & Wear and Northumberland. This agreement lasts for the first five years of membership, is irrevocable and is a condition of opening an account. Your agreement to open an account with us will be deemed your agreement to the Charitable Assignment Scheme. Please see ‘Transferring windfalls to charity’ on our website at https://www.newcastle.co.uk/transferringwindfalls or within our Savings General Terms and Conditions for further details.