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Established in Newport in 1869 to help local people build homes, we now help people across Wales and England buy properties and save for their future.
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01633 844 330
2 Year Fixed Rate Bond (Issue 14)
With our 2 Year Fixed Rate Bond you'll enjoy a competitive fixed rate of interest for 2 years.

Available in England and Wales.

Summary Box - Key Product Information:

Account Name

2 Year Fixed Rate Bond - Issue 14

What is the interest rate?
  • 1.55% AER/Gross – Annual Interest.
  • Interest is fixed for 2 years and calculated on a daily basis on the balance in the account.
  • Interest is added to the account following close of business on March 31 each year and paid on maturity of the fixed rate term.
Can Monmouthshire Building Society change the interest rate? 
  • No – the interest rate is fixed for 2 years (the account will mature 2 years from the date of opening).
What would the estimated balance be after 24 months based on a £5,000 deposit?
  • £5156.20
  • We have worked this out assuming a £5,000 deposit is made, and no further deposits or withdrawals are made during a
    24 month period and interest is credited to your account.
How do I open and manage my account?
  • New customers can open a bond at any branch or agency office, online or by post.
  • Existing customers can open a bond and transfer funds from a maturing Monmouthshire Building Society Fixed Rate Bond by following the instructions received with the maturity notice.
  • You can manage your account at any branch or agency office, by post or online (if registered with our ‘My Accounts’ service).
  • The minimum amount required to open an account is £5,000.
  • The maximum account balance is £500,000.
  • Once you have opened your bond it is not possible for you to add any further funds.  
Can I withdraw money?
  • No withdrawals or closure of the account allowed until after the maturity date. The account may be closed without penalty
    or notice should the investor die before maturity.
  • 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.
  • The bond will mature 24 months from account opening.
Additional Product Information 
  • 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.
  • You will only need to pay tax on any savings income you earn above your Personal Savings Allowance. The new 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.

Further Details:

Opening and Managing Your Account
  • You can apply online or simply complete an application form and take or post it to your nearest branch or agency office. If you wish to open an account by post, you need to send us a personal cheque drawn on your personal account, made payable to the applicant(s) name.
  • When you apply to open an account with us, we'll ask you for proof of your name and address, and an electronic check of your identity will be undertaken. This is required by law to verify the true identity of all new and existing customers. For full details please refer to our Proving Your Identity leaflet. Identity checks are an important part in the fight against terrorism and other criminal activities.
  • Customers can now enjoy the convenience of managing their account(s) online using our 'My Accounts' service. For more information please see our FAQ's.
Financial Services Compensation Scheme
  • We are part of the Financial Services Compensation Scheme (FSCS). Details of the scheme, and who is covered by it, are available here.

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.

2 Year Fixed Rate Bond Issue 14 - Specific Terms and Conditions

1 - Investment Criteria
The bond can be opened by new and existing customers. Only one account per person or one joint account may be opened per couple.

2 - Investment Limits
The minimum investment amount is £5,000 for annual interest. The maximum investment amount is £500,000.

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

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. The Account may be closed without penalty or notice should the investor die before maturity.

6 - Interest
Interest is calculated on a daily basis on the balance in the account, paid gross and is fixed for two years at 1.55% AER/Gross for annual interest. Interest is added to the account following close of business on March 31 each year and paid on maturity of the fixed rate term.

7 - Maturity
Your bond will mature on the 2 year anniversary of the date of opening. We will write to you prior to maturity informing you of current investment options available at that time. As this is a 2 year bond an annual interest statement will be sent. 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 Fixed Rate Bond of equal or shorter term with no access rights.

A 30-day cooling off period will be applied when the investment matures and is reinvested into another bond. If there is no such bond available at the time the proceeds will be transferred into an Escalator Instant account or its nearest equivalent available at the time.

8 - Terms and Conditions
These Specific Product Terms and Conditions apply to this bond in addition to our General Terms for Savings Accounts. Where there is any inconsistency between the General Terms and Conditions for Savings Accounts and the Specific Product Terms and Conditions, the Specific Product Terms and Conditions will apply.

FSCS Scheme