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Newcastle Building Society is the biggest building society in the North East, with a history spanning over 150 years.
These days people across the UK can open a range of savings account options with this North East mutual, from fixed rate bonds to ISAs, as well as other options.
Read our guide to find out if any of Newcastle Building Society’s savings accounts are for you.
A building society is a financial institution owned by its members. Building societies offer banking and related financial services including mortgages and savings.
Whereas banks are normally listed on the stock market and operate for their shareholders, building societies aren’t. Because they don’t have shareholders to pay, building societies have historically claimed to offer better interest and cheaper mortgage rates than banks.
Newcastle Cash Lifetime ISA (LISA)
Fixed cash ISAs
Easy access ISA
ISAs for buying a home
A cash ISA is a savings account where you don’t pay tax on the interest you earn. There’s a limit on the amount you can deposit into ISAs each year, which is set by the government.
Newcastle Building Society also offers three other savings options which aren’t ISAs: fixed rate accounts, easy access accounts and regular saver accounts.
Fixed rate accounts
Regular saver account
Much like the easy access ISA, the easy access account option lets you withdraw whenever you like without any penalties. You can put in between £1 and £250,000, so it’s an account for anyone really. However, you won’t get sizeable returns on your money.
Firstly, you need to decide what you’re looking for in a savings account. How often are you planning to draw out money? How much money can you afford to save each month?
You need to work out what you need before comparing the different offers available for certain types of savings accounts. Once you’ve done that, it’s useful to look at:
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