Newbury Building Society

 

Here are the facts...

	band	previous rate		current rates
		Gross %	Change %	Gross %	Gross AER % *	Net Equiv %	Net AER % *
	£1+	5.50	-0.15	5.35	5.35	4.28	4.28

What rate do you get?

Our Existing members account is designed to give a higher rate of interest to reward loyal members.

As the interest rate for this account is variable, please simply click here to see the current Existing members account interest rate. Interest is calculated daily and paid annually into the account on the 31 October. You can have your interest paid into your bank account or another Newbury Building Society account.

Is it for you?

Consider our Existing members account if you:

• Have been a member of Newbury Building Society for at least two years.
• Are looking at a simple and effective way to build up your savings.
• Can open the account with £50 or more and keep the balance at £1 or above.
• Are looking to invest a maximum of £1,500 each tax year (6 April to 5 April).
• Want instant access to your money.

A key thing to consider is whether you will need access to your money. Although EMA is an instant access account, if you withdraw money from your account, you cannot replace it in the same tax year (in the same way as an ISA). For example, if you invest £1,500 in your EMA on 10 January 2009 and then withdraw £500 on 15 February 2009, you will need to wait until the following tax year (6 April 2009) before you can add to your account.

The Existing members account is available to anyone who has been a Newbury Building Society member (investor and/or borrower) for at least two years, regardless of age. You can open the account in your own name. You cannot open an EMA in joint names.

What access can you have to your money?

You can get instant access to your money. This means that no notice is required but normal cash and cheque withdrawal and cheque clearance conditions apply. Click here for details.

Are there any additional benefits on this account?

Yes. If you take out a mortgage with Newbury Building Society, either as an existing borrower moving home or an existing investor moving home or switching your mortgage to us from another lender, you will receive a £100 bonus on top of the mortgage benefits associated with your new mortgage. You need to remember that this bonus applies to each mortgage completed (joint borrowers do not receive double the benefit) and cannot be claimed in addition to any other offer.

Are there any other terms and conditions you need to be aware of?

You should read our handy guide Savings explained, which contains general terms and conditions relating to saving and investing with Newbury Building Society.

Are there any charges on this account?

There are no charges for the normal operation of the account. There are charges for one-off services you may require, for example if you need a duplicate savings statement or make a withdrawal by CHAPS (Clearing House Automated Payments System). Please click here for details.