Newcastle Regular Saver (Issue 1)

Newcastle Regular Saver (Issue 1)

Annual (Variable) 5.50% Gross p.a./ 5.50% AER

Interest is paid on: Annual 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.

£2,471

*Please note this projection is based on:

• An initial Deposit of £200 made on 1st November 2024
• 11 further monthly Deposits of £200 made on the 1st of each Calendar Month thereafter
•  No further Deposits or withdrawals made during the term; and
• The rate of interest on account opening staying the same during the term.

Please note: These projections are provided for illustrative purposes only and do not take into account customer’s individual circumstances. 

Opening your account: In branch or online. For existing customers you can also log in to your Newcastle Building Society account to apply.

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

Funding my account : You can find information here on how to fund your new savings account

Minimum Opening Deposit:   £1

Maximum monthly deposit: £200

Withdrawals/transfers can be made penalty free without notice. You may only repay any withdrawn funds from your Newcastle Regular Saver (Issue 1) account up to the Maximum Monthly Deposit limit of £200.

On the Annual Anniversary of your account opening date, your account will mature into an easy access account with a variable interest rate. Please refer to point 8 of the Product Special Conditions for further details.

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.

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.