Issue 8
Please note this Bond is limited issue and may be withdrawn without notice at any time
You may hold one sole account or two joint accounts with someone else
What is the interest rate? |
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Can Monmouthshire Building Society change the interest rate? |
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What would the estimated balance be after 12 months based on a deposit of £250 every month for 12 months? |
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How do I open and manage my account? |
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Can I withdraw money? |
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Additional Product Information |
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Terms and Conditions:
It is important that you read the following before deciding to open an account:
Specific Terms and Conditions- Regular Saver Bond (Issue 8)
1 – Account Opening
To open this account, you must be a UK resident (excluding Northern Ireland) aged 16 and over.
You may hold one sole account or two joint accounts with someone else.
2 – Investment Limits
The minimum opening balance is £20.
The maximum deposit is £250 per calendar month.
The maximum balance allowed is £3,000.
3 - Further Investment
You can make any number of payments up to an overall total of £250 per calendar 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 limits, 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 partial withdrawals are allowed during the fixed rate period. If you close your account before maturity, any interest you have earned will be calculated at the variable interest rate of 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 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 is a one year regular saver bond, no annual interest statement will be sent.
6 - Maturity
Your bond will mature on the first anniversary of 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, the account will revert to the Society’s Easy Saver or its nearest equivalent available 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 Specific Terms and Conditions will apply.