Newbury BS 1.5% any access + 1.75%

1Foz

Firstly, to open an account with Newbury you need to be in one of these postcodes :

AL, BA, BH, BN, BS, DT, E, EC, EX, GL, GU, HA, HP, HR, KT, LU, MK, N, NN, NW, OX, PO, RG, RH, SE, SG, SL, SM, SN, SO, SP, SW, TA, TW, UB, W, WC, WD, WR.


New members can join with a 1.5% instant access saver here :
https://www.newbury.co.uk/savings/accounts/welcome-newbury/

You can only put 3k in it, which isn't an awful lot, but once you've got that open, after one year you're eligible for an existing member account paying 1.75% instant access with a max balance of 1,000,000. That one is here :
https://www.newbury.co.uk/savings/accounts/existing-member-account/

Those with Marcus accounts who live down South might at least be intrigued by this. I suppose the gamble is whether other instant access savers might offer a similar rate in a years time, but still, opening the 1.5% welcome account is competitive to most instant access savers. So, even just opening it with the £50 minimum balance to give you the option of the higher rate - depending where the instant access market is in a year -might not be a bad shout.

The 3k limit will obviously be a put off for many, but the caveat of 1.75% in a years time allowing for much more to be put in, its POTENTIALLY a much better deal for 12 months down the line. Though with Brexit coming down the tracks, who knows eh! Both can be opened and managed online or in branch.

Edit note : The existing member account sadly has a 2k per year limit, which I hadn't realised til just now...which unfortunately makes that impressive sounding 1,000,000 limit pretty much irrelevant

lr1277

I noticed with the account for existing members that the annual subscription limit is £2k. So 500 years to get to the £1M mark?


I believe Newbury is a small building socieity, so probably won't be able to support large balances. Just a guess on my part.


HTH

AnotherJoe

1Foz wrote: »

Firstly, to open an account with Newbury you need to be in one of these postcodes :

AL, BA, BH, BN, BS, DT, E, EC, EX, GL, GU, HA, HP, HR, KT, LU, MK, N, NN, NW, OX, PO, RG, RH, SE, SG, SL, SM, SN, SO, SP, SW, TA, TW, UB, W, WC, WD, WR.


New members can join with a 1.5% instant access saver here :

You can only put 3k in it, which isn't an awful lot, but once you've got that open, after one year you're eligible for an existing member account paying 1.75% instant access with a max balance of 1,000,000. That one is here :
https://www.newbury.co.uk/savings/accounts/existing-member-account/

Those with Marcus accounts who live down South might at least be intrigued by this. I suppose the gamble is whether other instant access savers might offer a similar rate in a years time, but still, opening the 1.5% welcome account is competitive to most instant access savers. So, even just opening it with the £50 minimum balance to give you the option of the higher rate - depending where the instant access market is in a year -might not be a bad shout.

The 3k limit will obviously be a put off for many, but the caveat of 1.75% in a years time allowing for much more to be put in, its POTENTIALLY a much better deal for 12 months down the line. Though with Brexit coming down the tracks, who knows eh! Both can be opened and managed online or in branch.

Not at a £2k per year limit unfortunately.

1Foz

You're joking. Damn. Ok sorry folks. How do they think anyone could reach 1,000,000 ... They may aswell say 100,000 and mist people would never get there ( if they're almost , or are over, middle aged !)

george4064

Thanks for sharing.

Also worth noting that interest is paid annually rather than monthly.

Interest is variable and calculated daily and paid annually on 31 October into the account, to another Newbury Building Society account or your bank account.

Sea_Shell

Just when I got excited about actually being in a catchment area...£2000 per year!!!

Maybe still worth £50 to become an existing customer?? In case of better future offerings?? Maybe. (can we be bothered to open yet another account?!)

AnotherJoe

Sea_Shell wrote: »

Just when I got excited about actually being in a catchment area...£2000 per year!!!

Maybe still worth £50 to become an existing customer?? In case of better future offerings?? Maybe. (can we be bothered to open yet another account?!)

Not me, i am trying to slim down my accounts, i closed a Newbury one a few years ago (it was opened to carpetbag) and had £100 in it for years, and closed a Santander123 yesterday. I still have a few accounts paying money between themselves which will be a pain to disentangle, it was annoying moving the DD's around on the123 so i could close it.

quirkydeptless

My Magic Money Tree is desperate for new growth, so I'm putting £50 here because I am such a loyal fellow

:money::xmastree::money:

JezR

It was £4k per tax year into the Newbury EMA until 2018/19.