You should read this product information carefully in conjunction with our Savings Terms and Conditions and ID for customers to ensure you understand the features and conditions of what you are buying. Our savings accounts are only available to UK residents. We recommend you contact your local branch to make an appointment before delivering your completed application form.
- Account name
- Charity account
- What is the interest rate?
Interest rate bandInterest rate£1+0.30%
- Interest is variable and calculated daily and paid annually on 31 October or upon closure. Annual interest can be credited to this account, or another Newbury Building Society account or your bank account.
- Rate of interest payable depends on individual circumstances and may be subject to change in the future.
- If the balance falls below the minimum operating balance, a variable rate of 0.15% gross/AER will be paid.
- Can Newbury Building Society change the interest rate?
- You will be notified of any material downward rate change by letter or secure message.
- The rate can be changed in accordance with our Savings terms and conditions. These can be accessed in branch and online at www.newbury.co.uk.
- What would the estimated balance be after 12 months based on a £1,000 deposit?
Interest rate bandEstimated balance
- This estimation is for illustrative purposes only and does not reflect individual circumstances.
- How do I open and manage my account?
- If you are opening your account without a deposit, the opening deposit must be made after the account has been approved and within 14 calendar days. Once the deposit is received, we will send the passbook to you. If the opening deposit is not received within 14 calendar days, then the account will be closed.
- Available to those aged 18 and over.
- Only one account per customer either in single or joint names.
- The minimum opening balance is £100.
- The minimum operating balance is £1.
- The maximum balance is £50,000.
- This account can be opened in branch or online.
- Once opened, it can be operated in branch, via post or online.
- Account holders must be resident within our local operating area as defined in 'Important notes' below.
- Can I withdraw money?
- 35 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
- Newbury Building Society supports nine charities as chosen by our members. When you open the account, we will ask you to confirm which of our Charity partners you would like to support. We will pay a donation of 0.3% which is calculated on the account balance on a daily basis and paid directly to the charity annually. Please see 'Important notes' for more 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.
WE HAVE NO CURRENT PLANS TO WITHDRAW THIS PRODUCT BUT IT MAY BE WITHDRAWN WITHOUT NOTICE.
- Our savings accounts are available to residents within our local operating area, defined as within the following postcodes: RG, OX, SP, GU, SO, SN, PO, HP & SL. We accept savings applications from existing members regardless of their postcode. We do not accept savings applications from new or existing members who live outside of the UK.
- We will require identification for all parties on a savings account, please see ID for customers for details.
- You can register with myaccounts, our online service, to view your accounts online, use secure messaging and request online withdrawals to our nominated account. Online withdrawal requests for sums up to £5,000 made between 9am and 5pm on business days (Monday to Friday excluding Bank Holidays), will be processed on the same day. Requests for sums over £5,000 and up to the maximum £50,000 made between 9am and 3pm on business days, will be processed the same day. Requests after 3pm will be processed on the next business day.
- Online withdrawal access is not available to accounts with a nominee or executor. These types of accounts can be opened and operated in branch.
- For more information regarding our online service, electronic payment and CHAPS service see our Savings terms and conditions.
- You can choose your charity preference at account opening, please see details below. Newbury Building Society reserves the right to change charity partners and donation amount; we will inform you of any change in charity or donation in writing.
- You can change your charity preference at any time however your charity preference at 31 October will receive the total donation.
- There are no charges for the normal operation of this account. See our Savings terms and conditions for more information.
as chosen by our members
|Alton Foodbank (Reg. No: 1151471) Project funded by local churches and community groups, working towards ending hunger in Alton and surrounding villages.|
|Alzheimer's Society (Reg. No: 296645) The UK's leading dementia support and research charity, here for anyone affected by any form of dementia in England, Wales and Northern Ireland.|
|Countess of Brecknock Hospice (Reg. No: 1067238) A specialist palliative care unit, within Andover War Memorial Hospital.|
|Helen and Douglas House (Reg. No: 1085951) An Oxford based hospice caring for terminally ill children, young adults and their families.|
|Friends of Paediatric Intensive Care Unit PICU (Reg. No: 1116880) Based in Southampton Children's Hospital, PICU is a regional centre of paediatric intensive care.|
|Priors Court Foundation (Reg. No: 1070227) Enables people with autism to reach their full potential and lead as independant and inclusive lives as possible.|
|St Michael's Hospice (Reg. No: 1002856) Enables anyone faced with a life-limiting illness, their families and carers, to attain the higest possible quality of life by providing a choice of specialist care and support.|
|Sue Ryder (Reg. No: 1052076) Hospice and neurological care for people facing a frightening, life-changing diagnosis.|
|Newbury Cancer Care (Reg. No: 1157796) A small independant charity helping local people who have been diagnosed with Cancer & other life-threatening illnesses.|
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.