Your cookie choices

We use necessary cookies to make this site work. With your permission, analytics cookies help us understand usage and marketing cookies support advertising.

You can reject non-essential cookies and still use the site. Change your choices anytime in Cookie settings.

Cookie settingsCookie policy

New Building Society review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.

Our verdict

New Building Society suits savers in GY who can plan ahead and leave money in place, paying a variable 2.75% on a notice account. The written notice rule on withdrawals and the GYD 250,000 minimum deposit are what to plan around, and the account suits regular savers rather than quick access spenders.

Key facts

Best for
A lump sum you can leave in place, earning a variable 2.75%.
Headline rate
2.75%↗
Rate type
Variable↗
Minimum deposit
GYD 250,000↗
Access terms
Withdrawals need one month's notice in writing; without notice a penalty equal to one month's interest is charged↗
Account kind
Notice↗
Legal entity
The New Building Society Limited↗
Headquarters
Guyana↗
Founded
1940↗
Support channels
Email, Phone↗
Official website
nbsgy.com

Mortgages

Initial rate
5%↗
Purpose
Purchase↗

Facts checked September 26, 2026, 4 sources

Pros and cons

Pros

  • A variable 2.75%, so the return can follow the market rather than being locked for a term.
  • Support runs on email and phone, so a person answers by phone or email.
  • A building society that traces its history back to 1940, so the name is established.
  • A stated minimum deposit of GYD 250,000, so the entry point is clear before you open one.

Cons

  • It is a notice account, so withdrawals need written notice in advance and a penalty equal to a month of interest applies if that notice is skipped.
  • 2.75% sits below the site median of 3% and ranks 273 of 488 on headline rate.
  • Support runs on email and phone only.
New Building Society

Ready to try New Building Society?

Scored 9.4 / 10 by SumCue.

See alternatives

Who it suits

  • Savers in GY with a lump sum who can wait out the notice period before taking money out.
  • People who want a small, named support team on email and phone rather than a large in-app help centre.
  • Homebuyers buying to live in the property, since the purchase mortgage starts at an initial rate of 5%.

Who should look elsewhere

  • Anyone who needs instant access, because withdrawals need written notice first.
  • Rate chasers, since bunq lists 3.01% and Wise lists 3.29%, both above the 2.75% here.
  • People who want a spread to shop across; Finteres publishes a headline rate of 0% to 36%.

Who runs it

The savings sit with The New Building Society Limited, a building society based in Guyana that traces its history back to 1940. Support runs on email and phone, so questions about the notice account or the purchase mortgage can go to the team by phone or email. The same team covers both the savings side and the lending side.

How New Building Society compares

Where New Building Society is available

Available
Guyana

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What rate does the account pay?+

The account pays a variable 2.75%, so the rate can move rather than staying fixed for a set period. The account kind is listed as notice, a notice account rather than an instant access pot. It suits money you can leave untouched for a while.

How much do I need to deposit?+

The stated minimum deposit is GYD 250,000. That is the entry point given for this account, so a saver with less than that would need to look elsewhere for a pot. Larger balances are paid the same variable 2.75% under the terms described.

How do I withdraw money?+

As a notice account, withdrawals need written notice in advance. Take money out ahead of that notice and a penalty equal to a month of interest applies. That makes the account poor for emergency cash and good for withdrawals you can plan and schedule.

How do I get help?+

Support runs on email and phone, so you can reach the team by phone or by email, whichever suits you. That covers questions on the notice savings and on the purchase mortgage, both handled by the same team at the society.

Who runs the society?+

The account is held with The New Building Society Limited, a building society based in Guyana that traces its history back to 1940. It is an established name in GY rather than a recent entrant, though the savings options on offer are narrow.

How does the rate compare with others?+

The 2.75% here sits below the site median of 3% for savings headline rates, and the account ranks 273 of 488. Some peers pay more, so the case for this one rests on the access terms rather than the rate.

Does the society lend as well as pay interest?+

The society also lists a mortgage for purchase at an initial rate of 5%. That is a borrowing cost, not a saving rate, so read it separately from the 2.75% paid on deposits. It matters if you are weighing what you earn against what you owe.

Sources

  • nbsgy.com/contact-us checked September 26, 2026

    Backs: Headquarters, Legal entity, Support channels

    “1 North Road & Avenue of the Republic, Georgetown, Guyana”

  • nbsgy.com/our-history checked September 26, 2026

    Backs: Founded

    “The New Building Society Limited (NBS) was incorporated in 1940 via a bill known as Chapter 36:21 of the Laws of Guyana”

  • nbsgy.com/regular-low-income-mortgage checked September 26, 2026

    Backs: Initial rate, Purpose

    “offers Loans at the regular Mortgage rate of 5% p.a. for Loans up to a maximum of 30 Million Dollars”

  • nbsgy.com/save-and-prosper checked September 26, 2026

    Backs: Access terms, Account kind, Headline rate, Minimum deposit, Rate type

    “One month's notice in writing is required to withdraw from this account. A penalty equivalent to a months' interest on the amount withdrawn will be charged”

Compiled from 4 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Term, Deposit protection.

Related by the facts

New Building Society

New Building Society

A lump sum you can leave in place, earning a variable 2.75%.

9.4/10See alternatives