Existing member account

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.

Savings Features

Account name 
  • Existing member account
What is the interest rate? 
    Interest rate band
    Interest rate
    4.35% Gross/AER variable
  • Interest is variable and is calculated daily and paid on 31 October or upon closure. Annual interest can be credited to this account, or another Newbury Building Society account (in the name of the company) or paid out via BACs to the company's nominated 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 1.50% 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? 
  • This estimation is for illustrative purposes only and does not reflect individual circumstances.
  • Interest rate band
    Estimated balance



How do I open and manage my account? 
  • There is no minimum age to open this account (subject to one year’s membership), however to open and operate this account online the minimum age is 18 years.
  • If you are opening your account online, the initial deposit must be made after the account has been approved and within 14 calendar days.
  • 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 five business days. If no deposits have been received within five business days, we will close the account.
  • One account per customer, to be held by an investor in his or her sole name. Joint accounts are not allowed.
  • Available to existing members of at least one year.
  • The minimum opening balance is £50.
  • The minimum operating balance is £1.
  • The maximum deposit is £6,000 per tax year (6 April to 5 April).
  • This account can be opened and operated in branch, via the post or online.
Can I withdraw money? 
  • 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.
Important notes


  • We do not accept savings applications from 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 £10,000 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 £10,000 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.
  • Once the full amount for the tax year has been invested into an EMA, additional deposits cannot be made regardless of withdrawals made during the tax year or the balance of the account.
  • EMA holders are entitled to a £100 cash bonus on top of normal mortgage benefits if they are an existing borrower taking out a new mortgage with us to move home or an investor moving home/remortgaging their main residence to us from another lender.
  • There are no charges for the normal operation of this account. See our Savings terms and conditions for more information.

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 a year.


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