2 Year Fixed Rate Cash ISA

• No. The interest rate is fixed, so we can’t change it during the term.

• If you paid £1,000 into this account without making any additional deposits or withdrawals and interest is added to your account, your estimated balance after 2 years would be £1,086.81.

Ways to open

• In Branch or Agency

 Who can open

• You must be aged 16 or over.
• You must be a UK resident (excluding Northern Ireland)

 Open from

• The minimum amount to open this account is £1,000.
  
• The maximum balance is £500,000.
• You can make additional deposits, up to the annual ISA subscription limit (£20,000 for the 2023/24 tax year), whilst the product is on sale.

 Manage your account

• You can manage your account at any branch or agency, by post or online (if registered with our ‘My Accounts’ service).

• No, during the term, you can’t take any money out of your account.
• Full closure, including transfer to another ISA provider, will be allowed subject to 180 days’ loss of interest, calculated on the closing balance.
• Before the end of the term, we’ll write to you asking what you’d like us to do with the balance in your account.
• If you don’t let us know before the end of the term (or we can’t reasonably fulfil your instructions), we’ll transfer the balance to an Easy ISA or similar account if it is no longer available.

• Accounts can only be held in a sole name.
• Interest is paid tax-free.
• 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.
• AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded each year.
• The tax-free rate is the rate of interest payable where interest is exempt from income tax.
• Rates and information correct as of 25th May 2023.