Variable Rate Accounts

Variable Rate Accounts can offer attractive rates of interest without fixing the rate over a set term. Take a look at our range of products below to see which is right for you.

Monthly Saver

up to 2.10%
GROSS/AER*
  • 2% Bonus after 11 monthly payments of between £10 - £1,000
  • Open an account with an initial deposit of as little as £10
  • One penalty free withdrawal is permitted in the first year without affecting your bonus
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Important Information:
11 monthly payments of between £10 - £1,000 must be made, and only one withdrawal per year, to qualify for your 2% Bonus.

General Savings Terms and Conditions - We strongly recommend you print and retain a copy. Savings Guide - a helpful guide to show you what you can do with your new accountNeed more assistance? Speak to an advisor on 0845 600 4368

Summary Box - Key Product Information for our Savings Account

Account Name Monthly Saver
Interest Rates
Annual (Variable, Including Bonus)
2.10% Gross/AER*
Annual (Variable, Excluding Bonus)
0.10% Gross/AER*
Tax Status Interest will be paid after the deduction of income tax at the appropriate rate unless you request otherwise.
Conditions for bonus payment You must make 11 out of 12 regular monthly payments and no more than 1 withdrawal during the year.
Withdrawal arrangements Penalty free without notice, only one withdrawal per year permitted. If you make 2 or more withdrawals per year, a bonus will not be payable.
Access By branch or by post.
  Additional Information
Interest Payment Annually, on Anniversary of account opening
Minimum Balance £10
Maximum Balance £1,000,000
Minimum Monthly Investment £10
Maximum Monthly Investment £1,000

Product Special Conditions

The Newcastle's General Investment Terms & Conditions will apply unless they are inconsistent with these Special Conditions, effective from the date of the account opening.

  1. The Account is a variable rate account.
  2. The Account can be operated in branch or by post.
  3. The minimum investment in the Account is £10 the maximum is £1,000,000.
  4. The Account can be held in single or joint names.
  5. After placing your Investment in the Account you may make further deposits while the Account is a current issue.
  6. Interest is calculated daily and credited to the Account on the account Anniversary.
  7. The bonus on your account is variable, calculated daily and will be paid annually on the account anniversary.
  8. To qualify for the bonus must make eleven out of twelve regular Monthly Payments during the year and no more than one withdrawal.
  9. A 'Monthly Payment' is defined as a minimum investment of £10 in a calendar month.
  10. There is no limit to the number of investments you can make in any one month.
  11. Withdrawals are available without notice.
  12. You can make one withdrawal per year without affecting your bonus. If you make two or more withdrawals you will receive Nova Plus rates from the date of the second withdrawal until the account anniversary.
  13. You can miss one monthly payment without affecting your bonus.
  14. 'Anniversary' means twelve months from the date of opening and each subsequent twelve month period.
 
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