Access 180

What is the interest rate?

• Rate of interest payable depends on individual circumstances and may change in the future. 
• If the balance falls below the £10,000 minimum, a variable rate of 1.50% gross/AER will be paid.
• Interest is variable and calculated daily and paid annually on 31 October (or upon closure) into the account, to another Newbury Building Society account or to your bank account.

Can Newbury change the interest rate?

• Interest rate is variable so can be changed as explained in our Savings Terms and Conditions.
• We will let you know if the rates go down by letter, email or by secure message through our myaccounts online system.

What would the estimated balance be after 12 months?

• These estimations are for illustrative purposes only and do not reflect individual circumstances. 

How do I open and manage my account?

• This account can be opened and operated in branch, via the post or online.
• Available to those aged 18 and over
• Account can be opened in single or joint names.
• Account holder/s must be resident in England or Wales.
• The minimum opening and operating balance is £10,000.
• If the account is opened online or by post, the account must be approved within 14 days. If the account is not approved within 14 days, we will close the account. The account is approved when we have received the application and the identification requirements have been satisfied.
• Once the account is approved, the account can receive deposits up to the account limit within 5 business days. If no deposits have been received within 5 business days, we will close the account.
• The maximum balance is £1,500,000.

Can I withdraw money?

180 days’ notice is required for all withdrawals; there is no option to withdraw early with a penalty. Once notice has been given, withdrawals can be made:


• Up to £500 cash per day in branch.
• By cheque against cleared funds in branch or by post.
• By electronic payment in branch to your nominated account (up to £50,000).
• Via the myaccounts online service to your nominated account (up to £50,000).
• By CHAPS for electronic payments to your nominated account (over £50,000).

Additional information

• Tax status – From 6 April 2016, HMRC introduced a Personal Savings Allowance for individuals and as a result interest on savings is paid gross of tax. Your tax treatment will depend on your individual circumstances and may be subject to change in the future. For further information go to www.gov.uk.
• Gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.
• AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.