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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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Limited Access Cash ISA

Issue 1

A flexible ISA with Limited Access

What is the interest rate?
  • 3.30% AER / Tax-free* - Annual Interest.
  • Interest is variable and calculated on a daily basis on the balance in the account and paid annually following close of business on March 31 each year.
  • Interest is paid tax free.
Can Monmouthshire Building Society change the interest rate?
  • Yes – the interest rate is variable, which means the interest rate can go up or down.
  • 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.
What would the estimated balance be after 12 months based on a £1,000 deposit?
  • £1,033.00.
  • We have worked this out assuming a £1,000 deposit is made, no further deposits or withdrawals are made during a 12 month period, the interest rate stays the same and interest is added to the account.
How do I open and manage my account?

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.
  • 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.
  • Transfers-in from Monmouthshire Building Society Cash ISA or other Cash ISA providers are permitted.

 Manage your account

  • 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?
  • Yes, you can withdraw from your account without giving notice subject to the limits of the branch or agency you use.
  • Up to 3 withdrawals are permitted penalty free within a 12-month period.
  • On the 4th and subsequent withdrawals, you will be charged an amount equivalent to 25 days interest on the amount withdrawn.
  • The 12-month period for withdrawals starts from the date you open your account.
  • A minimum balance of £1 must be maintained.
  • This is a flexible ISA meaning withdrawals from your account can be re-deposited during the same tax year without counting towards your annual ISA subscription limit.
  • Interest paid out during the tax year is classed as a withdrawal and can be re-deposited during the same tax year.
  • Closure of your Limited Access ISA account is permitted at any time without notice. Once closed, this account cannot be reinstated.
Additional Information *
  • The account is to be held by individuals only.
  • 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 6th June 2023.



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