Limited Access Cash ISA

• 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.

• 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.

• £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.

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).

• 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• On the 4th and subsequent withdrawals, you will be charged an amount equivalent to 25 days interest on the amount withdrawn.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.

• 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.