Newbury Building Society

 

Here are the facts...

	band	previous rate		current rates
		Gross %	Change %	Gross %	Gross AER % *	Net Equiv %	Net AER % *
	£1+	5.25	-0.15	5.10	5.10	4.08	4.08

What rate do you get?

Our Young saver account is designed to encourage children to save from an early age by giving a higher rate of interest with instant access.

As the interest rate for this account is variable, please simply click here to see the current Young saver 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 Young saver account if you:

• Are a parent or grandparent looking to save on behalf of a child aged up to 15 years.
• Are aged between 10 and 15 years and would like to save money in your own account.
• Have £1 or more to invest.
• Want instant access to your money.

The maximum you can invest in Young saver is £1 million.

Young saver is available to anyone aged up to 15 years. If you are aged 10 years or over, you can open an account in your own name. For children under 10, a parent or grandparent must be nominated to operate the account on their behalf. You must live within our savings accounts operating area. To see if you live within this area please click here.

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. Young savers receive a welcome gift and automatically become members of the Young savers' Club when they open an account. A membership card entitles them to discounts and special offers from local traders participating in the Young saver 'Associated Partners' scheme. Click here for details of the discounts and offers available in your area.

We have also made a special allowance for Young savers by lowering our standard minimum cheque withdrawal amount to £5.

What happens when you reach age 16?

In the year of your 16th birthday we will write to you and remind you that you need to reinvest your money in another of our accounts. We will suggest an alternative.

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.