Bond Maturity Reward Account - Issue 1 - Terms & Conditions (closed account)
Specific Terms and Conditions of the Bond Maturity Reward Account (Issue 1 - August 2010)
1 - Investment Criteria
This account can only be opened with part or all of the proceeds of a maturing Monmouthshire Building Society bond.
2 - Investment Limits
The minimum investment is £2,500 or £5,000 if you require your interest to be paid monthly. The maximum investment is £500,000.
3 - Further Investment
Once you have opened your account it is not possible for you to add any further funds.
4 - Withdrawals
Withdrawals are subject to 7 days notice. Closure of the account is permitted subject to 7 days notice. No earlier access is allowed. If a withdrawal reduces the balance to less than the minimum balance per account of £2,500, you will have 30 days from the date we issue you with a notice to bring the balance up to the minimum. If after the notice period has lapsed the balance remains below the minimum, we may close your account without further notice.
5 - Interest
Interest is variable and calculated on a daily basis on the balance in the account. Annual interest is paid on 31 March each year. Monthly interest will be paid at the end of each month and can be added to the account or transferred to another suitable bank / building society account (or suitable Monmouthshire Building Society account).
6 - Terms and Conditions
These Specific Terms and Conditions apply to this account in addition to our General Terms and Conditions for Savings Accounts. Where there is any inconsistency between the General Terms and Conditions for Savings Accounts and the Specific Terms and Conditions, the Specific Terms and Conditions will apply