Corporate Instant
This account pays an attractive rate of interest and gives you instant penalty-free access to your money. You can open an account with just £100 and enjoy the flexibility to invest and withdraw at any time.
Summary Box - Key Product Information
| Account Name | Corporate Instant |
| Interest rates (AERs) | • The interest rates are tiered • 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 | • There is no bonus with this account |
| Withdrawal arrangements | • Withdrawals can be made without notice or loss of interest • Up to 150 withdrawals are allowed during each year (ending 31 March) • More than 150 withdrawals will result in closure of the account • A minimum balance of £100 must be maintained |
| 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 is £100
• Maximum investment balance is £500,000
• You can add to your savings at any time by cash, cheque or direct debit
INVESTMENT AND WITHDRAWAL
Corporate Instant gives you the flexibility to save and withdraw at any time. You must maintain a minimum balance of £100 in your account at all times. Any transaction which would leave a balance of less than £100 must be to close the account. Adding to your account is simple, just call into your local branch with your passbook and deposit.
As this is a savings account (and not a bank current account) you are only allowed up to 150 withdrawals during each year (ending 31 March). If you make more than 150 withdrawals, we will write to you to close the account. Withdrawals can be made without giving notice and without penalty. Withdrawals of up to £350 in cash per day and larger amounts by cheque may be made from any of our branches. Withdrawals from our agencies have lower limits. You can make deposits or withdrawals through the post. Simply send your passbook together with your deposit or withdrawal instructions to your nearest branch.
INTEREST
Interest on the balance will be calculated on a daily basis and can be credited to the account, transferred to another suitable corporate Monmouthshire Building Society account or paid into a bank account annually following the close of business on the 31 March. The interest rates are variable. For details of the current rates, please click here.
TAXATION OF INTEREST
Interest will be paid net after the deduction of basic rate tax; or Gross without the deduction of tax for qualifying organisations who have submitted the appropriate identification.
It is important that you read the 'General Terms and Conditions for Savings Accounts' before deciding to open an account.
>> Corporate Instant Terms and Conditions
>> General Terms and Conditions for Savings Accounts
