Two Year Variable Rate Bond Terms and Conditions

Specific Terms and Conditions of the Two Year Variable Rate Bond (Issue No. 6)

1 - Investment Limits
The minimum investment is £5,000. The maximum investment is £250,000. Accounts opened in a sole name are limited to one bond up to the maximum permitted balance. Accounts opened in joint names may open two bonds up to the maximum permitted balance per account.

2 - Further Investment
Once you have opened your bond it is not possible for you to add any further funds.

3 - Withdrawals
Partial withdrawals are allowed subject to 90 days loss of interest on the amount withdrawn.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.

4 - Interest
Interest is variable and calculated on a daily basis. Annual Interest is paid annually on 31 March and on maturity. Monthly interest will be paid at the end of each month and must be transferred to another Monmouthshire Building Society account or a bank account.

5 - Maturity
Your bond will mature on the second anniversary of the date of opening. We will write to you prior to maturity informing you of current investment options available at that time. On maturity, the bond will be closed. If your instructions have not been received before the bond maturity date, the proceeds of your matured bond will be transferred into a new variable Rate Bond of equal or shorter term (if available) or an Escalator Instant account or its equivalent.

6 - Terms and Conditions
These Specific Terms and Conditions apply to this bond 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.