Summary Box - Key Product Information:
|Account Name||5 Year Fixed Rate Bond - Issue 6|
|What is the interest rate?||
|Can Monmouthshire Building Society change the interest rate?||
|What would the estimated balance be after 60 months based on a £1,000 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 following before deciding to open an account:
Product Terms and Conditions - 5 Year Fixed Rate Bond Issue 6
1 - Account Opening
To open this account, you must be a UK resident (excluding Northern Ireland) aged 16 and above.
The account is limited to one account per customer and can be held on your own or jointly with someone else.
2 - Investment Limits
The minimum amount required to open this account is £1,000.
The maximum balance is £500,000.
3 - Further Investment
You can pay in additional funds, up to the maximum balance, whilst the product remains on sale. Deposits can be made by cash (at a branch or agency), cheque, bank transfer or standing order.
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.
6 - Interest
Interest is calculated on a daily basis on the balance in the account, paid gross and is fixed for five years. Interest is added to the account following close of business on March 31st each year and paid on maturity of the fixed rate term. An annual interest statement will be sent.
7 - Maturity
We will contact you before the fixed term is due to end to let you know the maturity options that are available for you to select. If you have not notified us of your decision before the maturity date, then on maturity, the account will revert to the Society’s Easy Saver or the nearest equivalent available at that time.
8 - Terms and Conditions
These Product Terms and Conditions apply to this account in addition to our General Terms and Conditions for Savings Accounts. Where there is any inconsistency between the General Terms and Conditions for Savings Accounts and the Product Terms and Conditions, the Product Terms and Conditions will apply.