Home Deposit Savings

Here at Moneywise, we aim to make fair and affordable finance accessible for as many people as possible.

There’s no denying that buying your first home is a key life milestone. As costs continue to rise across the nation, however, becoming a homeowner is starting to feel out of reach for a lot of people.

It can take years for people to save for a deposit. And with home deposits costing 5-10% of the property on average, you need to save thousands of pounds, which can feel unmanageable.

But saving for a deposit for a home just got easier with our Home Deposit Savings account. Now, you can save as often as you can until you’ve achieved your goal.

To apply you must:

  • Be aged over 18
  • Agree to Moneywise Credit Union rules

How do I open a Home Deposit Savings account?

When you join as a member you will receive an account number so you can start saving straight away. Our friendly team will help you through the simple application process at any of our local service points. Or you may also apply online.

Open your Home Deposit Savings account today.

Still have questions?

The frequently asked questions page should give you all the information you need but if you want to find out more please give us a call on 0330 165 5337.

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Be Moneywise…

Payroll Savings

Saving with Moneywise is easy through payroll deduction. Your regular deduction comes straight from your salary so you won’t even notice it.

Smart Cash Childrens Account

You can become a member of Moneywise from birth so it’s a great place to put a little aside for your children and grandchildren. If you are between 8-16 years you also check out the Moneywise Smartcash card, a Visa debit card for young people.

Savings FAQs

You might find it helpful to check out the kind of questions that our customers frequently ask us. You can also submit any other questions you might have.

Apply Right Now

Membership is open to all who live and work in the Tyne and Wear, County Durham, Teesside or Northumberland region.

Joining Moneywise is free, subject to a £1 annual membership fee,  all we ask is that you save regularly to support our funds for lending. We only lend to members so you can be confident your savings are being used to support like-minded individuals.

South Tees Community Bank

South Tees Community Bank and Moneywise Credit Union Ltd merged into one business in December 2017. Moneywise is the regulated name and South Tees Community Bank is a trading name of the merged organisation.

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