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
£1+
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

£1+

£1,043.50

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.
• 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.
• 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.