Close

We use cookies to ensure that we give you the best experience on our website. By using this site, you are agreeing to these cookies being set. For more information about why we use cookies and how we use them, please see our cookie policy.

Newcastle Building Society Community Fund Six Month Fixed Rate Bond (Issue 4)

Are you looking for a short term savings account with a fixed rate of interest? Invest between £1 and £250,000 in our six month fixed rate bond and enjoy a fixed rate for six months. This account also pays a charitable donation to the Newcastle Building Society Community Fund at the Community Foundation.

This is a branch exclusive account.

Summary Information

Summary box
Account Name Newcastle Building Society Community Saver Six Month Fixed Rate Bond (Issue 4)
What is the interest rate?

Annual Gross*/AER**

0.90%/0.90% (Fixed until 30th May 2017)

Interest is paid on: 30th May 2017

Monthly Gross*/AER**

0.90%/0.90% (Fixed until 30th May 2017)

Interest is paid on: Last business day of month
Can Newcastle Building Society change the interest rate? The interest rate for this account is fixed and will not change until the maturity date (30th May 2017).  Please refer to point 3 of the Product Special Conditions for further details.
What would the estimated balance be on the maturity date (30th May 2017), based on a £1,000 deposit? Annual (Fixed)
£1,004
Monthly (Fixed)
£1,004
Please note:  This projection is provided for illustrative purposes only and does not take into account customer's individual circumstances.  This projection is based on an initial £1,000 deposit and no further deposits or withdrawals are made.
How do I open and manage my account? Opening your account
In branch.
Giving us instructions for your account
In branch, by post, by telephone, online or by secure message (for accounts opened and operated online).

Minimum Opening Deposit: £500

Maximum Opening Depoist: £250,000

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

Can I withdraw money? Withdrawals / transfers are not permitted until maturity.
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

Charitable Donation:

On a quarterly basis the donation amount will be donated to the Community Foundations to be held as part of the Newcastle Building Society Community Fund. The donation amount will be calculated quarterly by taking the balance invested into all Newcastle Building Society Community Saver accounts at the end of each of the three months, adding the balance together, dividing by 3 to calculate the average balance, multiplying this amount by 0.10% and dividing the total by 4 as it’s a quarterly donation.

 

For example if the balance at the end of January was £250,000, February £275,000 and March £300,000 then the average balance in quarter 1 would be £275,000; the Society will then donate £68.75.

 

Any estimate of the likely amount to be donated by the Society to the Community Foundation in the course of the next year will depend on the amount invested in accounts opened as part of the Newcastle Building Society Community Saver Account scheme. Based on an estimated investment total in Community Saver accounts of £25 million in the first year, it is estimated that the total donation of £25,000 would be made in the first year.

The donation amount will be fixed until 23rd August 2019.  On or after 23rd August 2019 the donation amount will fall to 0.0%.

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.

Apply in Branch

Life Protection Insurance

Life Protection Insurance is designed to protect you and your family from the financial consequences of death, a serious accident or illness, or with certain policies, even unemployment

Find out more