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Limited issue - act now to avoid disappointment as product may be withdrawn without notice. After the account opening, all money must be paid in by 31 May 2017.

Our Capital 120 is suitable for savings you will not need to use in the short term and offers a simple way to manage your savings exclusively online, while still earning an attractive rate of interest.

The Capital 120 key features are:


  • Opened and operated exclusively via NCBS Online
  • Minimum balance of £20,000 after funding cut-off date
  • Save up to £250,000
  • Withdrawals available with no penalty after 120 days' notice
  • Minimum withdrawal £100
  • Variable interest rate, paid annually on 1 February or monthly at a reduced interest rate
  • Additions allowed until the funding cut-off date of 31 May 2017
  • View balance, transaction history and interest payment details online

Summary box

Account name

 1st Issue Capital 120

What is the interest rate?

Rate effective from 31 March 2017

 Annually Gross Gross AER1
 £20,000+ 1.26% 1.26
 Monthly Gross Gross AER1
 £20,000+ 1.25% 1.26%
  •  Interest is calculated daily and paid annually on 1 February, or monthly

Can National Counties Building Society change the interest rate?

Yes, the interest rate is variable and may be changed. Please refer to Section 14 of the General Conditions for our Savings Accounts booklet for more information on when we may make changes to the interest rate and how this will be communicated

What would the estimated balance be after 12 months based on a £20,000 deposit?

 Opening balance - Annual interest Projected balance (Gross)
 £20,000 £20,252.00
 Opening balance - Monthly interest Projected balance (Gross) 
 £20,000 £20,000*

*monthly interest of £20.83 is paid away, which totals £249.96 over 12 months

  • These projections assume that the account is opened with the stated amount with no additions or withdrawals made. Projected balance is at the end of 12 months
  • All projections are provided for illustrative purposes only and do not take into account individual circumstances
  • Actual interest may depend on the date the account is opened and the date that interest is paid 

How do I open and manage my account?

  • The Capital 120 can only be applied for online
  • Opening transaction must be a minimum of £500 by debit card or by a transfer from an existing account with us. A minimum of £20,000 must be held in the account after the funding cut-off date. If your account balance has not reached £20,000 by 31 May 2017, we will close your Capital 120 account and return the money invested to your pre-nominated account
  • Additions can be made by bank transfer, transferred from another savings account with us or by debit card, and are allowed until the funding cut-off date
  • A maximum of £250,000 may be held in the account
  • Instructions for the account can only be made via the Online Service

Can I withdraw money?

  • Withdrawals are available after 120 days' notice without access charge and can be paid by bank transfer or transfer to another account with us. Immediate withdrawals are not permitted
  • Minimum withdrawal is £100. There is no maximum withdrawal

Please see the 'Taking money out' section of the Product Features leaflet for full information

Additional information

TAX STATUS: Interest is paid gross from 6 April 2016 due to the introduction of the Personal Savings Allowance (PSA). You will need to declare any income from savings interest earned over your PSA through a self-assessment tax return to HM Revenue & Customs

This issue may be withdrawn at any time without prior notice.

1 AER stands for Annual Equivalent Rate and illustrates what the annual rate would be if interest was compounded.

All financial information correct on 31 March 2017.

Opening an account

Your savings account Certificate will be generated and posted to you within three working days of account opening. If you would like to top up your account before then please contact our Savings Account Service Team on  03300 243411. Alternatively, if you are an existing customer you can find your account number using our Online Service.

Use of a debit card to deposit savings

Please note that the debit card you use to deposit money via the Online Service should be registered to the address we hold for you.

Debit card transactions are subject to approval by your bank and may be declined if you do not have sufficient funds available in your bank account or the transaction exceeds your bank's anti-fraud limits.

Operating an account on behalf of someone else

This account is available for operation by Third Parties, Attorneys and Deputies. For information on how to set up any of these on your accounts please refer to our FAQs page where all the information you should need can be found.

If you have already set up Power of Attorney, a Deputy or Third Party and wish to open this account, please also refer to our FAQs page where you can find details of the forms we require.

If you have any further account opening queries please contact our New Savings Account Enquiry Team on 03300 243413.

Existing online customer?

Log in here

Can't find the account that's right for you?

We have a number of other saving accounts that are available under our Family Building Society brand.

These include fixed rate and tracker bonds, flexible ISAs, as well as the Windfall Bond and accounts specifically designed for children and those saving for their first home.

Visit the Family Building Society for details of our full range of savings accounts.
Call Us On
03300 243413