Newcastle Direct Saver Plus
Up to 2.35% Gross /AER*A competitive variable rate account with the flexibility of easy access.
If you're looking for a competitive savings rate combined with the added benefit of easy access to your account, you might want to try the Newcastle Direct Saver Plus. It gives you a competitive savings interest rate with the added bonus of easy access to your account if you make four or less withdrawals each year.
Instant access to your savings
It's an instant access savings account, so you can make withdrawals whenever you want. You're allowed to make up to four withdrawals each year without penalty. If you make more withdrawals than permitted, the interest rate on your account will reduce.
How to apply for this product
The Newcastle Direct Saver Plus is exclusively available from your local branch or by contacting us on 00350 200 41143. For further product details, please see the product terms below.
Is this account right for you?
If you're still wondering which savings account is right for you, our friendly advisers will be happy to help. Simply pop into our branch: 197-201 Main St, Gibraltar or contact us on 00350 200 41143.
Product Terms
| Account Name | Newcastle Direct Saver Plus | |||
|---|---|---|---|---|
| Interest Rates | Annually (Fixed) | Monthly (Fixed) | ||
| Gross* | AER** | Gross* | AER** | |
| 2.35% | 2.35% | 2.10% | 2.12% | |
| Interest Rates (Upon 5th withdrawal) | Annually (Variable) | Monthly (Variable) | ||
| Gross* | AER** | Gross* | AER** | |
| 0.35% | 0.35% | 0.10% | 0.10% | |
| Tax Status | Interest will be paid gross.* | |||
| Conditions for bonus payment | No bonus is applicable. | |||
| Withdrawal arrangements | Penalty free withdrawals are limited to a maximum of four withdrawals per year. | |||
| Access | In branch. | |||
| Additional Important Information | ||||
| Annually | Monthly | |||
| Interest Payment | 1 August, commencing 2012 | Last business day | ||
| Minimum Balance | £1 | |||
| Maximum Balance | £1,000,000 | |||
* 'Gross' interest is the contractual rate of interest payable before the deduction of income tax. ** 'AER' stands for the Annual Equivalent Rate, a notional rate which illustrates what the interest rate would be if paid and compounded on an annual basis.
Product Terms and 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.
- The Account is a variable rate account.
- The Account can be operated in branch or by post.
- The minimum investment in the Account is £1 the maximum is £1,000,000.
- The Account can be held in single or joint names.
- After placing your Investment in the Account you may make further deposits while the Account is a current issue.
- Penalty free withdrawals are limited to a maximum of four withdrawals per Year. Each 'Year' means twelve months commencing 1 August and ending 31 July.
- If a 5th withdrawal is made during the Year (as defined in point 6), the interest rate will be paid at 0.35% Gross*/AER** variable for Annual interest and 0.10% Gross*/AER** variable for monthly interest, and will be paid from this withdrawal date until the beginning of the next Year (commencing 1 August).
- Interest is calculated daily and is paid on 1 August each year, commencing 2012 or monthly
- Should the final day of a calendar month be a business day then any monthly interest paid to a third party will be paid on that day. Otherwise it will be paid on the following business day. Any final monthly interest due on maturity will be credited to the account.
- Interest can be paid to your account, to another account with the Newcastle or to a third party bank or building society account.
- You will access your account in the same manner as you opened the account. For example if your Account is a passbook Account your Account will be operated by passbook.
- Details are correct as at 13/07/2011.
Apply
How do I apply?
The Newcastle Direct Saver Plus is exclusively available from your local branch or by contacting us on 00350 200 41143. (lines open 8am to 6pm Monday to Friday).