Available in England and Wales.
Please note this account is limited issue and may be withdrawn without notice at any time.
Summary Box - Key Product Information:
|Account Name||1 Year Fixed Rate Charity Bond - Issue 1|
|What is the interest rate?||
|Can Monmouthshire Building Society change the interest rate?||
|What would the estimated balance be after 12 months based on a £5,000 deposit?||
|How do I open and manage my account?||
|Can I withdraw money?||
|Additional Product Information||
Terms and Conditions:
It is important that you read the Product Terms and Conditions and the General Terms and Conditions for Savings Accounts before deciding to open an account.
1 Year Fixed Rate Charity Bond (Issue 1) - Specific Product Terms and Conditions
1 - Account opening
This account is available to charities registered in the UK investing nonpersonal funds. A maximum of 4 signatories aged 18 or over are permitted. We will require your charity registration number.
2 - Investment Limits
The minimum investment is £5,000.
The maximum investment is £5,000,000.
The opening investment must be made by cheque or direct transfer from a UK bank account in the name of the organisation. No cash deposits are allowed.
3 - Further Investment
You can make additional deposits up to the maximum amount whilst the bond remains on sale. Further deposits are permitted by standing order or direct transfer from a UK bank account, cheques can be posted to our Head Office.
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 - Closure
You may close the account in exceptional circumstances at our discretion.
6 - Withdrawals
No withdrawals allowed until after the maturity date.
7 - Interest
Interest is calculated on a daily basis on the balance in the account, paid gross and is fixed for one year. Annual interest is paid on maturity of the fixed term. As this is a one-year bond, no annual interest statement will be sent.
8 - Maturity
Your bond will mature on the first anniversary of the date of opening. We will write to you prior to maturity informing you of the investment options available at that time. If your instructions have not been received before the bond maturity date, on maturity, the proceeds of your bond will revert to the Society’s variable rate Charity Instant access account or its nearest equivalent at that time, and will be subject to the interest rate and product terms and conditions of this account.
9 - Membership Rights
This account is not a share account and therefore you will have no Society membership rights in Monmouthshire Building Society (e.g. the right to vote).
10 - Terms and Conditions
These specific Product Terms and Conditions apply to this Account in addition to our General Terms & Conditions for Savings Accounts. Where there is any inconsistency between the General Terms & Conditions for savings Accounts and the specific Product Terms and Conditions, the specific Product Terms and Conditions will apply.