Available in England and Wales.
Summary Box - Key Product Information:
|Account Name||Easy Saver - Issue 1|
|What is the interest rate?||
|Can Monmouthshire Building Society change the interest rate?||
|What would the estimated balance be after 12 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 Product Terms and Conditions and the General Terms and Conditions for Savings Accounts before deciding to open an account.
Easy Saver (Issue 1) - Specific Terms and Conditions
1 – Account Opening
This account is available to new and existing Monmouthshire Building Society customers.
2 – Investment Limits
The minimum investment is £1.
The maximum investment is £500,000.
3 - Further Investment
You may add to your savings at any time, just call into your local branch or agency with your passbook and deposit. If it is more convenient you can post the deposit or save through a standing order from your bank account.
4 - Closure
Closure of your Easy Saver account is permitted at any time without notice or penalty.
5 – Withdrawals
You can withdraw from your account without giving notice subject to the limits of the branch or agency you use. Details of our cash and cheque withdrawal limits are displayed in our branches and agencies, available from our website or our Head Office.
You can also make withdrawals by electronic transfer using the ‘My Accounts’ service. Online withdrawals using the ‘My Accounts’ system are subject to further terms and conditions.
As this is a savings account, you are only allowed up to 150 withdrawals during each year (ending 31 March). If you make more than 150 withdrawals we will give you two months’ written notice following which we will close the account.
If a withdrawal reduces the balance to less than the minimum balance per account of £1 we may close your account without further notice.
6 - Interest
Interest is variable and calculated on a daily basis on the balance in the account. Interest is paid annually and can be added to the account or paid into a suitable bank/building society account or suitable Monmouthshire Building Society account following the close of business on 31 March each year.
In line with our General Terms and Conditions for Savings Accounts (6.9 - 6.11) we may change the interest rate at any time if we reasonably believe the change is needed. If we increase the interest rate, we will display this information in our branch/agency offices and on our website. If we decrease the interest rate we will notify you by sending you a letter, email or other personal notice 30 days in advance of the change.
7 - 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.