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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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Christmas Saver Bond (Issue 5)
Start saving now for Christmas 2023 with our Christmas Saver Bond Issue 5.

Due to unprecedented demand this product is now only available through one of our branches or agencies. We apologise for any inconvenience caused.

All submitted applications will be processed, we apologise for any delays. 

Please note this is a limited issue bond which may be withdrawn without notice at any time

Summary Box - Key Product Information:

Account Name Christmas Saver Bond - Issue 5
What is the interest rate?
  • 5.50% AER/Gross – Annual Interest.
  • Interest is fixed for 1 year. The fixed term will start on the date the account is opened.
  • Interest is calculated on a daily basis on the balance in the account and paid on maturity.
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 deposit of £200 every month for 12 months?
  • £2,471.33
  • We have worked this out assuming that you pay in £200 a month for 12 months until maturity, making your first payment on the date the account is opened and on the same date each month thereafter.
  • This projection is provided for illustrative purposes only and will depend on your individual circumstances.
How do I open and manage my account?
  • You can open this account at any branch or agency.
  • You must be a UK resident (excluding Northern Ireland) aged 16 or over.
  • The minimum opening balance is £10.
  • The maximum deposit is £200 per calendar month.
  • Additional deposits can be made as often as you like up to £200 per calendar month.
  • The maximum balance allowed is £2,400.
  • You can manage your account at any branch or agency, by post or online (if registered with our ‘My Accounts’ service)
Can I withdraw money?
  • No withdrawals are permitted until 1st October 2023.
  • If you close your account before 1st October 2023, the account will not qualify for the 5.50% AER/Gross interest rate. Any interest you have earned will be calculated at 0.20% AER/Gross.
  • Your bond will mature on the first anniversary from the date of opening.
  • 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, your account will revert to the Society’s Easy Saver or its nearest equivalent available at that time.
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.
  • 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.
  • Rate effective from 24th November 2022.

Terms and Conditions:

It is important that you read the following before deciding to open an account:

Product Terms and Conditions - Christmas Saver Bond(Issue 5)

1 - Account Opening.

To open this account, you must be a UK resident (excluding Northern Ireland) aged 16 and over.

2 - Investment Limits.

The minimum initial investment amount per account is £10. The minimum balance
per account of £10 must be maintained to keep the account open.
The maximum investment per month per account is £200.
The maximum investment allowed within your Christmas Saver Bond is £2,400. Only one account per person is allowed or two joint accounts may be opened, per couple.

3 - Further Investment.

You can make a number of payments up to the total of £200 per month. Deposits can be made by cash (at a branch or agency), cheque, bank transfer or standing order.
Where funds are received in excess of the above limit, they will be
returned either by cheque to the account address or by a faster payment to the
account where the payment was received from.

4 - Withdrawals.

No withdrawals are allowed until 1st October 2023.
If you close your account before this date, any interest you have earned will be calculated at 0.20% AER/ Gross.

5 - Interest.

The interest rate is fixed for one year from the date of account opening and will be added to your bond on maturity. It will be calculated on a daily basis so that the interest on each cash deposit will be calculated over the period for which it is actually invested and not the entire period of your bond. As this bond will mature within 12 months of opening, no annual interest statement will be sent.

6 - Maturity.

Your Christmas Saver Bond will mature on the first anniversary from the date of the date of opening. We will contact you before the fixed term is due to end to let you know the maturity options 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 its nearest equivalent at that time.

7 - Terms and Conditions.

These 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 Product Terms and Conditions, the Product Terms and Conditions will apply.

FSCS Scheme