1 Year Fixed Rate Charity Bond

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Telephone

01633 844 330

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Please note this account is limited issue and may be withdrawn without notice at any time.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?	1.10% AER/Gross – Annual Interest. Interest is fixed for 1 year and calculated on a daily basis on the balance in the account. Interest is paid on maturity of the fixed term.
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 £5,000 deposit?	£5,055.00. We have worked this out assuming a £5,000 deposit is made, no further deposits or withdrawals are made during a 12 month period, and the interest is paid into the account.
How do I open and manage my account?	You can open your account by post and online. Once the account is open you can manage your account via the Society’s online service ‘My Accounts’. We will contact you via telephone to complete the registration process. The account is open to charities registered in the UK with a maximum of 4 signatories aged 18 or over. The minimum amount required to open an account is £5,000. The maximum account balance is £5,000,000. You can make additional deposits up to the maximum amount while 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. No branch transactions will be accepted.
Can I withdraw money?	No withdrawals or closure of the account allowed during the fixed term period. The 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 the proceeds of the bond will revert to the Society’s variable rate Charity Instant access account or its nearest equivalent and will be subject to the interest rate and product terms and conditions of this account.
Additional Product Information	This is a limited issue bond which can be withdrawn by the Society without notice at any time. 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 contractual rate of interest payable before the deduction of tax.

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.

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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 UK Finance. 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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