Escalator Instant
Escalator Instant Account
Our ESCALATOR INSTANT account pays attractive rates of interest and gives you instant penalty free access to your money. The interest rates are tiered, so as your savings rise the whole of your balance will normally earn interest at a higher rate. You can open an account with just £100.
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 | Escalator Instant |
| Interest rates (AERs) | • The interest rates are tiered • The interest rates are 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, standing order or direct debit
Interest
Interest on the balance will be calculated on a daily basis and can be credited to the account, transferred to another 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.
Investment and Withdrawal
Our 'General Terms and Conditions for Savings Accounts' contains important information which you should read before investing or withdrawing funds.
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 of up to £350 in cash per day and larger amounts by cheque may be made from any of our branches or agents on demand, subject to withdrawal limits.
Adding to your account is simple, just call into your local branch or agent with your passbook and deposit. If it is more convenient, you can post it or save through a standing order from your bank account. You can also make regular credits by direct debit. You can now enjoy the convenience of managing your account(s) online using our 'My Accounts' service. For more information and to register, please click here.
It is important that you read the 'General Terms and Conditions for Savings Accounts' before deciding to open an account.
>> Escalator Instant Terms and Conditions
>> General Terms and Conditions for Savings Accounts
>> Branch and Agency Withdrawal Limits
