FSCS

Bonus 60 Issue 1 - Terms & Conditions (closed account)

Specific Terms & Conditions for Bonus 60 Account

1 – Investment Limits 



The minimum investment is £1,000. The maximum investment is £500,000.



2 - Further Investment 



You may add to your savings at any time, just call into your local branch or agency with your passbook and deposit. If it is more convenient you can post the deposit or save through a standing order from your bank account. You can also make regular credits by direct debit. 



3 - Withdrawals 



All withdrawals are subject to either 60 days written notice without loss of interest, or instantly with 60 days loss of interest.

After the first 12 months, you will receive an unconditional bonus of 1.00% in addition to the variable interest rate, regardless of the number of withdrawals made.

Following the first anniversary of the date on which your account was opened, if you make no more than two withdrawals during the year  (ending 31 March), an annual bonus of 0.75% will be paid in addition to the variable interest rate. If you make more than two withdrawals during the year (ending 31 March), you will lose your bonus for that year.  Please note that if the interest and bonus have been added to the account and you subsequently withdraw them, this will count towards your two withdrawals. 

Alternatively you can close your account instantly with 60 days loss of interest and bonus, or by giving 60 days written notice without loss of interest, but you will lose the bonus for that year.

If a withdrawal reduces the balance to less than the minimum balance per account of £1000, 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.
Withdrawals are subject to the limits of the branch or agency you use. Details of our current withdrawal limits are displayed in branches, available from our Head Office or click here to view our withdrawal limits. 

You can also make withdrawals by electronic transfer using the 'My Accounts' system. Online withdrawals using the 'My Accounts' system are subject to further terms and conditions.


4 - Interest and Bonus 



Interest is variable and calculated on a daily basis on the balance in the account. Bonuses are fixed and calculated on a daily basis on the balance in the account.

First 12 Months From Account Opening

Interest can be credited to your account or paid annually into a bank account (or suitable Society account) following the close of business on the 31 March. Towards the end of the first year we will write to you detailing your bonus information. In the first year you will receive an unconditional bonus of 1.00% in addition to the variable interest rate, and this will be paid to your account on the first anniversary of the date of opening.

Month 13 Onwards From Account Opening

Following the first anniversary of the date on which your account was opened, if you make no more than two withdrawals during the year or period (ending 31 March), an annual bonus of 0.75% will be paid in addition to the variable interest rate. If you make more than two withdrawals during the year or period (ending 31 March), no bonus will be paid for that year. Interest, including any bonus earned, will be credited to your account or paid annually into a suitable bank / building society account (or suitable Monmouthshire Building Society account)  following the close of business on the 31 March each year.  Please note that if the interest and bonus have been added to the account and you subsequently withdraw them, this will count towards your two withdrawals. 

5 - 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.

 
 


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