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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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1 Year Fixed Rate Bond

Issue 67


Interest Rate AER / Gross - Fixed : 4.71%

Minimum - Maximum Balance : £1,000 to £500,000

Open and manage your account : Online, in Branch or Agency

You must be:

  • At least 16 years old.
  • A UK resident (excluding Northern Ireland).

May be suitable for you if: 

Green Check Mark PNGs for Free DownloadYou would like to invest a lump sum for 1 Year.

Green Check Mark PNGs for Free DownloadYou do not need access to your money for 1 Year.

Green Check Mark PNGs for Free DownloadYou have at least £1,000 available to open the account.

Green Check Mark PNGs for Free DownloadYou would like to make additional deposits within the first 30 days of opening your account.

Green Check Mark PNGs for Free DownloadYou would like to open and manage this account online and/or in person from Monmouthshire Building Society Branches.

Not suitable for you if:

 File:Cross red circle.svg - Wikimedia Commons You want to access your money during the fixed term.

 File:Cross red circle.svg - Wikimedia Commons You want to open this account over the phone or by post.

Additional Information :

  • Additional funds can be added within 30 days of opening.
  • Accounts can be held in sole or joint names.
  • You are unable to cancel this bond once it is opened.

Click below to expand the 1 Year Fixed Rate Bond Summary Box and Terms and Conditions.

What is the interest rate?
  • 4.71% AER / Gross
  • The interest rate is fixed for 1 year.
  • Interest is calculated daily and paid at the end of the fixed term.
Can Monmouthshire Building Society change the interest rate?
  • No
  • The interest rate is fixed, so we can’t change it during the term.
What would the estimated balance after 12 months based on £1,000 deposit?
  • £1,047.10.
  • Based on £1,000 being paid into the account, and there is no other money into the account over 12 months.
How do I open and manage my account?

Who can open

  • You must be aged 16 or over.
  • You must be a UK resident (excluding Northern Ireland).

How to open

  • Online
  • Branch or Agency.

Minimum

  • The minimum balance is £1,000.

Maximum

  • The maximum that a member can invest with Monmouthshire Building Society is £500,000 this could be just in this account or split across other accounts you hold with the Society.

How to manage

  • Online (my accounts), in branch or agency.
  • You can pay money into your account within the first 30 days of opening your account, up to the maximum balance.
Can I withdraw money?
  • No, you can’t take money out or cancel a Fixed Rate Bond, so you won’t be able to access your money until the end of the term.
  • We’ll contact you before the end of the fixed term to let you know what your next steps are.
  • If we don’t hear from you or we can’t action your request, we’ll transfer the balance to one of our instant access accounts.
  • You should not invest if you think you will need access to your money during the fixed term period.
Additional Information
  • The gross rate means before tax.
  • You only pay tax on savings above your Personal Savings Allowance. Visit www.hmrc.gov.uk for more information.
  • AER is the Annual Equivalent Rate and shows what the rate would be if interest was paid and added on each year.
  • Rates and information correct from the
    24 May 2024.

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

Fixed Rate Bond Terms and Conditions

1 Year Fixed Rate Bond Summary Box

Other Important Information:

FSCS Information Sheet

General Terms and Conditions for Savings Accounts

Savings Service Tariff

Important Information About Your Personal Data

My Accounts Terms and Conditions

 

Savings terms:

AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest were paid and added to your account each year.

Gross is the rate of interest payable before any tax is taken off.

Fixed interest means the rate stays the same until the account matures.

Variable interest means the rate can go up or down at any time. We will always publish our rate changes and give you with at least 30 days notice if the rate on one of your accounts is due to go down.

Tax-free means you will not pay any tax on your interest.

Tax year runs from 6 April to 5 April.

Business day is Monday to Friday excluding bank holidays.

The information provided in the summary box is a summary of the key features of the 1 Year Fixed Rate Bond and is not intended to be a substitute for reading the terms and conditions above that apply to the account.


Next Steps

If you have read and understood all the information provided, and you would like to apply for a 1 Year Fixed Rate Bond simply click below.

Alternatively, you can visit one of our branches or agencies in person. 

Apply Online

 

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