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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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5 Year Fixed Rate Bond (Issue 3)
If you are looking for a longer-term home for your savings, then the 5 Year Fixed Rate Bond may be the account for you. You'll enjoy a competitive fixed rate of interest for 5 years.

Available in England and Wales.

Please note this Bond is limited issue and may be withdrawn without notice at any time.

Summary Box - Key Product Information:

Account Name 5 Year Fixed Rate Bond - Issue 3
What is the interest rate?
  • 2.00% AER/Gross - Annual Interest
  • Interest is fixed for 5 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 5 years (the account will mature 5 years from the date of opening).
What would the estimated balance be after 60 months based on a £1,000 deposit?
  • £1,104.08
  • We have worked this out assuming a £1,000 deposit is made, no further deposits or withdrawals are made during a 60 month period and interest is credited to your account.
How do I open and manage my account?
  • You can open a bond at any branch or agency office, by post or online.
  • Existing customers can open a bond to transfer funds from a maturing Monmouthshire Building Society Fixed Rate bond by following the instructions received with the maturity notice.
  • Once open you can manage your bond 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 £1,000.
  • 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.
  • Your bond will mature on the fifth 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 Easy Saver instant access account and will be subject to the interest rate and product terms and conditions of this account.
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 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.

Terms and Conditions:

It is important that you read the Specific Product Terms and Conditions and the General Terms and Conditions for Savings Accounts before deciding to open an account.

Specific Product Terms and Conditions for the 5 Year Fixed Rate Bond - Issue 3


1 - Investment Criteria

The account can be opened by;

• New and existing customers. Only one account per person or one joint account may be opened per couple.

• Existing Monmouthshire Building Society Fixed Rate Bond customers whose bond is reaching maturity.

2 - Investment Limits

The minimum investment amount is £1,000 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 five years at 2.00% 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. An annual interest statement will be sent.

7 - Maturity

Your bond will mature on the fifth anniversary of the date of opening. Your bond will mature on the 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 Easy Saver instant access account and will be subject the interest rate and product terms and conditions of this account.

8 - 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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