Exclusive Savings Account
We are giving local children a £10 boost towards their future this summer with our new children's saving account, as part of our involvement at this years NE1 Tiny Toon.
To help encourage positive saving habits from an early age, we will deposit £10 into every new children's “Tiny Saver” account opened at our Monument branch throughout the summer, giving young savers a small boost to help them get started.
How to apply
You can open our Tiny Saver account by booking an appointment in our Monument branch. You'll need to bring your child's ID to open an account (Passport or Birth Certificate)
See below for details of our Tiny Saver account.
| Account Name | Newcastle Tiny Saver |
| What is the interest rate? | Annual (Variable): 5.00% Gross pa/AER (Variable) 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 £100 per month? | Annual (Variable) £2,537 This projection is based on:
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| How do I open and manage my account? | Opening your account: In our Newcastle, Monument branch. Giving us instructions for your account: In branch, by post or by telephone. Minimum Opening Deposit: £1 Maximum Opening Deposit: £100 Newcastle Building Society will add £10 to every Newcastle Tiny Saver Account opened, paid upon account opening. This £10 is a welcome gift from us and does not count towards the £100 monthly Deposit limit, meaning you can still make an initial Deposit up to £100. |
| 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 Deposit limit. 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 10 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. |
Terms and Conditions
Please make sure you've read the terms and conditions before applying.
Newcastle Tiny Saver - Terms & Conditions (PDF, 330kB)
Savings General Terms & Conditions (PDF, 1MB)
Deposits protected up to £120,000
Your eligible deposits with Newcastle Building Society are protected up to a total of £120,000 by the Financial Services Compensation Scheme, the UK’s deposit protection scheme. This limit is applied to the total of any deposits you have with Newcastle Building Society and Manchester Building Society (as a trading name of Newcastle Building Society). Any deposits you hold above the £120,000 limit are unlikely to be covered.
Learn more about FSCS