Members Loyalty ISA Launched

9 September 2014

The Society has launched a Members Loyalty ISA (Cash ISA – Special Issue 13) which is available to all existing savings and / or mortgage customers who were members of the Society on or before 19th August 2014.

Key features include:

  • Interest rates fixed until 30th September 2018.
  • 2.90% AER/Tax-free annual interest / 2.80% Tax-free (2.84% AER) Monthly Interest
  • Minimum investment balance of £1,000
  • Transfers-in from existing Monmouthshire Building Society ISA accounts permitted (all transfers must be received by 31st October 2014)
  • Transfers-in from other ISA managers are not permitted
  • Additional deposits must be received by 31st October 2014. No further deposits will be accepted after this time
  • Partial withdrawals, transfers out and closures are permitted subject to 365 days loss of interest
This is a limited issue ISA account which may be withdrawn at any time.

With changes to ISA allowances already in effect, you can currently save up to a total of £15,000 for the 2014/2015 tax year in a Cash ISA.

To find out more and to apply to open the account online, click here.

The gross rate is the contractual rate of interest payable before the deduction of income tax at the specified rate.

'AER' stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded each year. As every advert for a savings product will contain an AER, you will be able to compare more easily what return you can expect from your savings over time.

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

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