Changes to Savings Interest Rates

20 December 2017

Following November’s Bank of England announcement to raise Bank Rates, Monmouthshire Building Society (MBS) will increase interest rates on its personal savings accounts by at least 0.25% on 1st January 2018, with the Society looking to encourage new and existing members to boost their savings.

The Society’s Christmas Saver Account has increased to 1.30%* AER/Gross including bonus, giving members the opportunity to spread the cost of saving for the festive season over the year, whilst earning an attractive rate of interest.

We have increased our Young Savers Account rate and Junior Cash ISA rates to 1.50% AER/Gross and 2.25% AER/Tax-Free** respectively, with the Society looking to support more children and young people in saving for their futures.

Product Development Manager, Dan Goulding, said: “The Society has always prided itself on being a safe and secure place for its members to entrust their savings.

“This planned rate change will mean that our existing members will benefit from the full 0.25% rate increase, from our Young Savers to our First Home Bonus Saver.

“There are many reasons people look to save with the Society, and it’s important for us as a mutual building society to give back to our members.”

Notes

*Including bonus. 1.05% AER/Gross excluding bonus

**The tax-free rate in the contractual rate of interest payable where interest is exempt from income tax.

All accounts can only be opened by new and existing members who live within the following postcode areas: NP, CF, SA, LD, WR, GL, HR, BS, BA, SN, RG, OX, SY and TA.

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