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Introducing an easy access savings account that pays an additional 0.05% on all balances held in the accounts to the Newcastle Building Society Fund at the Community Foundation.
Interest is paid on: Annual anniversary of account opening.
Interest is paid on: Monthly anniversary of account opening.
Minimum Opening Deposit: £1
Maximum Opening Deposit: £250,000
Maximum Account Balance: £250,000 (plus any resulting interest)
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
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 0.05% 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 £35.38.
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.
The donation amount will be fixed until 31st December 2020. On or after 31st December 2020 the donation amount will fall to 0.0%.
Please make sure you've read the terms and conditions before applying
It only takes a few minutes to complete your application online
Visit your local branch with proof of identity and residence and we'll open the account for you.
It takes about 10 mins