1 Year Fixed Rate Bond

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Issue 53

Interest Rate	3.80% AER/Gross – Annual Interest. Interest is fixed for 1 year. The term will start on the day the account is opened. Interest is calculated on a daily basis on the balance in the account and paid on maturity
Can Monmouthshire Building Society change the interest rate?	No – the interest rate is fixed for 1 year. The account will mature 1 year from the date of opening.
What would the estimated balance be after 12 months based on a £1,000 deposit?	£1,038.00. We have worked this out assuming a £1,000 deposit is made, no further deposits or withdrawals are made during a 12 month period and the interest is added to your account.
How do I open and manage my account?	You can open this account at any branch or agency. You must be a UK resident (excluding Northern Ireland) aged 16 and over. The minimum amount required to open this account is £1,000. You can pay in additional funds, up to the maximum balance, whilst the product remains on sale. Deposits can be made by cash (at a branch or agency), cheque, bank transfer or standing order. The maximum account balance is £500,000. You can manage your account at any branch or agency, by post or online (if registered with our ‘My Accounts’ service).
Can I withdraw money?	You do not have the right to cancel this Fixed Rate Bond once you have opened it. You should not invest if you think you will need to access your money during the term of your bond. No withdrawals or closure of the account allowed until after the maturity date. Your bond will mature on the first anniversary from the date of opening. We will contact you before the fixed term is due to end to let you know the maturity options that are available for you to select. If you have not notified us of your decision before the maturity date, then on maturity, the account will revert to the Society’s Easy Saver or the nearest equivalent available at that time.
Additional Product Information	This is a limited issue bond which can be withdrawn by the Society without notice at any time. Once this bond has been withdrawn, no further deposits will be accepted. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded each year. The gross rate is the rate of interest payable before the deduction of tax. You will only need to pay tax on any savings income you earn above your Personal Savings Allowance. The Personal Savings Allowance applies to the total savings income you earn from all banks/building societies and not just from Monmouthshire Building Society. Visit HMRC website at www.hmrc.gov.uk for more information. The tax treatment depends on your individual circumstances and may change in the future. Interest rate effective from 15th March 2023.

Terms and Conditions:

It is important that you read the following before deciding to open an account:

FSCS Information Sheet
General Terms and Conditions for Savings Accounts
Savings Service Tariff
Important Information About Your Personal Data
Product Terms and Conditions

Product Terms and Conditions - 1 Year Fixed Rate Bond Issue 53

1 - Account Opening
To open this account, you must be a UK resident (excluding Northern Ireland) aged 16 and over.
The account is limited to one account per customer and can be held on your own or jointly with someone else.

2 - Investment Limits
The minimum amount required to open this account is £1,000.
The maximum balance is £500,000.

3 - Further Investment
You can pay in additional funds, up to the maximum balance, whilst the product remains on sale. Deposits can be made by cash (at a branch or agency), cheque, bank transfer or standing order.

4 - Cancellation
You do not have the right to cancel this Fixed Rate Bond once you have opened it. You should not invest if you think you will need to access your money during the term of your bond.

5 - Withdrawals
No withdrawals or closure of the account allowed until after the maturity date.

6 - Interest
Interest is calculated on a daily basis on the balance in the account, paid gross and is fixed for one year. Interest is paid on maturity. As this is a one year bond, no annual interest statement will be sent.

7 - Maturity

We will contact you before the fixed term is due to end to let you know the maturity options that are available for you to select. If you have not notified us of your decision before the maturity date, then on maturity, the account will revert to the Society’s Easy Saver or the nearest equivalent available at that time.

8 - Terms and Conditions

These Product 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 Product Terms and Conditions, the Product Terms and Conditions will apply.

FSCS Scheme

Monmouthshire Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register Number: 206052. FCA register address www.fca.org.uk/register/. We are members of the Financial Services Compensation Scheme. We are members of the Building Societies Association and Council of Mortgage Lenders. Details of our Customer Satisfaction and Complaints procedures are available and complaints that we cannot resolve may be referred to the Financial Ombudsman Service (http://www.financial-ombudsman.org.uk/). By accessing any part of this website, you shall be deemed to have accepted our Website Terms of Use.

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