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Whether you’re looking for instant access, annual bonuses or tax-free savings, we have an account that will help you achieve your savings goals.
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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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Exclusive One Access Cash ISA

Issue 1

Interest Rate AER / Tax-free - Variable : 4.85%

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

If the balance on the account falls below the minimum balance of £1,000 the rate will be the same as the Easy ISA - Currently 3.40%

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

You must be:

  • An existing Monmouthshire Building Society customer. 
  • At least 18 years old.
  • A UK resident (excluding Northern Ireland).
  • You could be a Crown servant (for example diplomatic or overseas civil service) or their spouse or civil partner if you do not live in the UK.

To be a qualifying customer you must :

  • Be an existing savings customer (sole or joint) or mortgage customer.
  • Your savings account must have money in it.

May be suitable for you if: 

Green Check Mark PNGs for Free Download You currently hold a Monmouthshire Building Society savings account or mortgage.

Green Check Mark PNGs for Free Download You would like a variable rate of interest on your savings.

Green Check Mark PNGs for Free Download You would like the option of instant, penalty free access to your ISA funds once a year.

Green Check Mark PNGs for Free Download You would like to benefit from tax-free savings.

Green Check Mark PNGs for Free Download You would like to make additional deposits to this flexible ISA (Up to the annual ISA subscription limit, £20,000 for the 2024/25 tax year).

Green Check Mark PNGs for Free Download You would like to open and manage the account online, or in Monmouthshire Building Society Branches and Agencies.

Not suitable for you if:

 File:Cross red circle.svg - Wikimedia Commons  You would like a fixed rate of interest on your savings.

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

 File:Cross red circle.svg - Wikimedia Commons  You want unlimited access to your ISA. 

Additional Information:

  • You can pay into multiple cash ISAs within the same tax year, up to the overall ISA allowance of £20,000.

Click below to expand the Exclusive One Access ISA Summary Box and Terms and Conditions.

What is the interest rate?
  • 4.85% AER/ Tax-free
  • The interest rate is variable, which means the rate can go up or down.
  • Interest is calculated daily and paid once a year after 31st March.
  • If the balance drops below the minimum £1,000 the interest rate of the Easy ISA will be applied - this is currently 3.40%.
Can Monmouthshire Building Society change the interest rate?
  • Yes, the interest rate is variable.
  • We can change the rate at any time if we feel it’s needed, this is in line with our General Terms and Conditions for Savings Accounts.
  • If we put the rate up, this is shown on our website, and information will be available in our branches and agencies.
  • If we put the rate down, we’ll let you know as soon as we can - with at least 30 days notice.
What would the estimated balance after 12 months based on £1,000 deposit?
  • £1,048.50
  • Based on £1,000 being paid into the account, the interest rate doesn’t change and there is no other money into or out of the account over 12 months.
How do I open and manage my account?

Who can open

  • You must be an existing Monmouthshire Building Society savings (sole or joint) or mortgage customer to open this product.
  • You must be aged 18 or over.
  • You must be a UK resident (excluding Northern Ireland).
  • You could be a Crown servant, their spouse or civil partner if you are not a UK resident.

How to open

Online, in branch or agency.

Minimum

The minimum balance is £1,000 and your account needs to stay above this amount.

Maximum

  • The maximum that you can pay into an ISA is limited by your annual ISA allowance each tax year.
  • For the current tax year 2024/25 the ISA allowance is £20,000.
  • The maximum 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 (on my accounts), in branch or agency.
  • You can pay in as much as you want, whenever you want, up to the maximum balance or ISA allowance.
  • You can transfer into this ISA from another Cash ISA.
Can I withdraw money?
  • Yes, you can only take money out of your account, free of charge, once in a 12-month period.
  • The 12-month period starts 1 April and ends 31 March each year.
  • Once you have used your 1 penalty free withdrawal, you can not withdraw again.
  • Any closure or ISA transfer out at this point will be charged 45 days loss of interest on the amount you are taking out.
  • If the balance drops below the minimum £1,000 the interest rate of the Easy ISA will be applied - this is currently 3.40%.
  • This is a flexible ISA which means you can take money out and put it back in without counting towards your annual ISA limit.
  • You don’t need to give us notice if you want to access your money or close your account.
  • Some branches and agencies have limits to the amount of cash you can withdraw.
Additional Information
  • Accounts can be opened for individuals only.
  • You can pay into multiple cash ISAs within the same tax year, up to the overall ISA allowance of £20,000.
  • The tax-free rate means that interest is exempt from income tax.
  • The gross rate means before tax.
  • The tax advantages depend on your individual circumstances and the tax treatment of your ISA may change in the future.
  • 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 6 April 2024.

The information provided in the summary box is a summary of the key features of the Exclusive One Access ISA 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 an Exclusive One Access Cash ISA simply click below. 

Apply Online

 

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Your home may be repossessed if you do not keep up repayments on your mortgage. Think carefully before securing other debts against your home.

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Monmouthshire Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register Number: 206052. FCA register address www.fca.org.uk/register/. We are members of the Financial Services Compensation Scheme. We are members of the Building Societies Association and Council of Mortgage Lenders. Details of our Customer Satisfaction and Complaints procedures are available and complaints that we cannot resolve may be referred to the Financial Ombudsman Service (http://www.financial-ombudsman.org.uk/). By accessing any part of this website, you shall be deemed to have accepted our Website Terms of Use.
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