Two Year Variable Rate Bond - (Monthly Option Available)
Two Year Variable Bond - 6th Issue
Our two year variable rate bond offers you an attractive rate of interest, with higher rates for larger investments. Interest rates are variable and therefore may rise or fall during the term of your bond.
It is an ideal way to invest money that you wish to see grow, which you do not require access to for a period of two years.
You can apply to open this bond online, by post, or at any of our branch and agency offices.
Summary Box - Key Product Information
| Account Name | 2 Year Variable Rate Bond – 6th Issue |
| 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 bond |
| Withdrawal arrangements | • Partial withdrawals are allowed from this bond but are subject to 90 days loss of interest on the amount withdrawn • Closure of the bond is permitted at any time subject to 90 days loss of interest on the balance at the time of closure |
| Access | • You can manage your account in branch, by post or online (if registered with our ‘My Accounts’ service) |
Annual Interest Option
Minimum Investment: £5,000
Maximum Investment: £250,000
Interest is calculated on a daily basis and paid annually on 31 March, and on maturity.
Monthly Interest Option
Minimum Investment: £5,000
Maximum Investment: £250,000
Interest will be paid at the end of each month and must be transferred to another Monmouthshire Building Society Account or a bank account.
Investment & Withdrawals
Once you have opened your bond, it is not possible for you to add any further funds. Partial withdrawals are allowed from this bond but are subject to a penalty equal to 90 days loss of interest on the amount withdrawn. You should not open a bond if you think you may need access to your money before maturity.
Closure of the bond is permitted at any time subject to 90 days loss of interest on the balance at the time of the closure.
TAXATION OF INTEREST
Interest will be paid or credited after deduction of income tax at the appropriate rate, or gross subject to the required certification. To receive gross interest you need to complete an R85 Registration Form available from any of our branches, this website or your local Tax Office. Further details about taxation of interest are available by clicking on the link below.
It is important that you read the 'Two Year Variable Rate Bond Terms and Conditions' and the 'General Terms and Conditions for Savings Accounts' before deciding to open an account.
>> 2 Year Variable Rate Bond Terms and Conditions
>> General Terms and Conditions for Savings Accounts
