Exclusive Savings Account
To celebrate the launch of our Monument branch, we are offering an exclusive regular savings account, where you can save up to £500 each month for 24 months. This product is exclusive to our Monument branch and can only be opened by booking a branch appointment.
Not only does the account offer a competitive variable rate of 5.50% gross p.a./AER, opening an account will also help to support the local community. For every account opened we will donate £5 to the Community Foundation North East* to be held as part of the Newcastle Building Society Community Fund, which gives grants to local charities across the North East, Cumbria and North Yorkshire.
* Community Foundation North East is a Registered Charity serving Tyne & Wear and Northumberland - Registered Charity Number: 700510. Limited Company Number 2273708.
How to apply
You can open our Monument Regular Saver account by booking an appointment in our new Monument branch. See below for details of our Monument Regular Saver account.
| Account Name | Monument Regular Saver |
| What is the interest rate? | Annual (Variable): 5.50% Gross p.a./ 5.50% AER Interest is paid on: Annual anniversary of account opening. 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. |
| 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 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. |
| What would the estimated balance be after 24 months based on a deposit of £500 per month? | £12,697 Please note this projection is based on:
Please note: These projections are provided for illustrative purposes only and do not take into account customer’s individual circumstances. |
| How do I open and manage my account? | Opening your account: In our Newcastle Monument branch, or by a QR code exclusively available from our Monument branch. 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 Maximum monthly deposit: £500 |
| Can I withdraw money? | Withdrawals/transfers can be made penalty free without notice. On the 2nd 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. |
| 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. 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’ or within our Savings General Terms and Conditions for further details. |
Terms and Conditions
Please make sure you've read the terms and conditions before applying.
Monument Regular Saver (PDF, 176KB)
Savings General Terms & Conditions (PDF, 1MB)
Apply in Monument branch
Monument is open Monday - Friday 8.30am - 5.30pm, Saturday 9am - 1pm and closed on bank holidays.
