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Newcastle Children's Saver
Please note, the rates on the following account will be reduced from 21 January 2026. Please see ‘What is the interest rate?’ below for further details.
Rate
- Open with: £1 and Invest up to £200 a month
- Take money out: anytime
- Variable rate of interest#
- Please note, the rates on the following account will be reduced from 21 January 2026.
- Apply in Branch
Summary information
Account Name
Newcastle Children's Saver
What is the interest rate?
Gross interest is the contractual rate of interest, without the deduction of tax. AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest were paid and added to your account each year. It is your responsibility to pay any tax due, based on your individual circumstances.
Annual (Variable)
3.25% gross pa/AER Rate until 20 January 2026
3.00% gross pa/AER Rate effective from 21 January 2026
Interest is paid on: 30 June each year or on account closure
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)
£2,433
This projection is based on:
- an initial Deposit of £200 made on 1st January 2026
- 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: This projection is provided for illustrative purposes only and does not take into account customer’s individual circumstances. Projections are also based on the interest rates paid from the 21 January 2026.
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.
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.
In branch
Visit your local branch. If you’d like to open an account in-branch, you may need to arrange an appointment. Before visiting, please call ahead.