Income Generator Terms and Conditions

Specific Terms and Conditions for the Income Generator Account

1 - Investment Limits
The minimum investment is £5,000. 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 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.

3 - Withdrawals
Withdrawals are subject to either 90 days notice, or on demand subject to 90 days loss of interest on the amount withdrawn. As interest is paid monthly, if you make a withdrawal, you will receive less interest each month thereafter.

Withdrawals are subject to the limits of the branch or agency you use. Details of our cash and cheque withdrawal limits are displayed in branches, available from our Head Office or click here.

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 condition.

4 - Interest
Interest is variable and calculated on a daily basis on the balance in the account. Interest is paid monthly following the end of each calendar month. The interest must be transferred to another Monmouthshire Building Society account or paid into a bank account. Interest cannot be added to the account.

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.