Christmas Saver
Christmas Saver Account
Start saving now for Christmas with the Monmouthshire Building Society CHRISTMAS SAVER account. You can save from as little as £1 up to £250 each month to help you spread the cost of the festive season which, as we all know, can be a very expensive time. By saving regularly you will earn an attractive rate of interest, plus a generous bonus each year.
You can apply to open this account online, by post, or at any of our branch and agency offices.
Summary Box - Key Product Information
| Account Name | Christmas Saver - Issue 2 |
| Interest rates (AERs) | • The interest rate is variable – please click here to view the current interest rates |
| Tax Status | • Interest will be paid or credited after deduction of income tax at the appropriate rate, or gross subject to the required certification |
| Conditions for bonus payment | • A 1% annual fixed bonus is paid at the end of the year (31 October) if all the required monthly deposits are made
• You are required to make at least one deposit per month from January (or the account opening month) up to and including October each year. If you miss any payments you will not qualify for the bonus |
| Withdrawal arrangements | • Withdrawals are only permitted during November and December each year (no notice is required). A withdrawal at any other time must be to close the account |
| Access | • You can manage your account in branch, by post or online (if registered with our ‘My Accounts’ service) |
Additional Product Information
• Minimum opening balance and minimum monthly deposit is £1
• Maximum deposit is £250 per month
• You can add to your savings at any time by cash, cheque or direct debit, in addition to your minimum monthly deposit, provided you do not exceed the £250 limit per month
INTEREST AND BONUS
Interest on the balance will be calculated on a daily basis and will be credited to the account following the close of business on 31 October. The interest rate is variable, but the bonus is fixed at 1% gross/AER per annum. For details of the current rate, please click here.
INVESTMENT AND WITHDRAWAL
Adding to the account is easy because your monthly payments can be made by cash, cheque or direct debit. Any number of payments can be made, but at least one payment for the minimum amount of £1 must be received every month from January (or the month in which you open the account) up to and including October, otherwise you will not qualify for the bonus.
Cash or Cheque
Funds can be added by calling in to any of our branch or agency offices with your passbook and deposit.
Direct Debit
You can save direct from a suitable account with your bank or another building society. Simply choose a fixed amount to save every month between £1 and £250 and set a date of your choice up to the 24th of each month as your payment date. By setting up a direct debit you will get peace of mind knowing that you will not miss a payment. You can change the amount you save by direct debit at any time by giving us written notice of the new amount. Please note that the agreed amount will be debited from your bank/building society account every month, including November and December. Additional payments can be made via cash and cheque. However, you must not exceed the £250 limit per month.
This account is designed to help you save regularly for the Christmas season. You will qualify for a generous bonus at the year end (31 October) if you make at least the minimum payment as described.
You can make any number of withdrawals without notice, during November and December each year. A withdrawal at any other time of the year must be to close the account. You must maintain a minimum balance of £1 in the account, otherwise the account will be closed.
It is important that you read the 'General Terms and Conditions for Savings Accounts' before deciding to open an account.
>> Christmas Saver Issue 2 Terms and Conditions
>> General Terms and Conditions for Savings Accounts
>> View Interest Rates
>> Taxation
>> Branch and Agency Withdrawal Limits
>> Opening an Account
>> Apply online - Christmas Saver
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