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Instant Access Tracker Cash ISA

Issue 1

Interest Rate AER / Tax Free - Variable : 3.25%

Minimum - Maximum Balance : £1 to £2,000,000

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

You must be:

  • At least 18 years old.
  • You must be aged 18 or over and a UK resident (excluding Northern Ireland). 

May be suitable for you if: 

green_tick You would like instant, penalty free access to your ISA funds.

You would like to benefit from tax-free savings.

You would like an account that tracks the Bank of England Base Rate.

You would like to open and manage this account online and/or in person from Monmouthshire Building Society Branches.

Not Suitable for you if:

red_cross You would like a fixed rate of interest on your savings.

red_cross You would like to open this account over the phone or by post.

Additional Information :

  • Accounts can be held in sole name only.
  • You can pay into multiple cash ISAs within the same tax year, up to the overall ISA allowance of £20,000.
  • Closure of your Instant ISA account is allowed at any time without notice. Once closed, this account cannot be reinstated.

Click below to expand the Instant Access Tracker Cash ISA Summary Box and Terms and Conditions.

What is the interest rate?
  • 3.25% AER/Tax-free.
  • This account tracks 0.50% below the Bank of England base rate (currently 3.75%).
  • Interest is variable, calculated daily and paid once a year after 31 March. Interest can be added to this account, paid to an external account in your name with another UK provider, or transferred to another account that you have with us.
Can Monmouthshire Building Society change the interest rate?
  • Yes the interest rate is variable, which means the rate can go up or down subject to any changes to the Bank of England base rate.
  • We’ll update the interest rate within 14 business days whenever the bank rate changes
What would the estimated balance be after 12 months based on a £1,000 deposit?
  • £1,032.50
  • 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

  • MonBS Cash ISAs can be opened for individuals only.
  • You must be aged 18 or over and a UK resident (excluding Northern Ireland). 

How to open

  • Online
  • Branch or agency
  • Via the App

Minimum

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

Maximum

  • The maximum that a member can invest with Monmouthshire Building Society across all accounts is £2,000,000.

How to manage

  • Online (my accounts), in branch or agency, or via the MonBS app.
  • You can pay money into your account whenever you want, up to the maximum balance ISA allowance.
  • You can transfer into this ISA from another Cash ISA.
Can I withdraw money?
  • Yes, you can take out your money or close your account without giving notice.
  • his is a flexible ISA which means you can take money out and put it back in without counting towards your annual ISA allowance.
Additional Information
  • Accounts can be opened for individuals only.
  • You can pay into multiple cash ISAs in the same tax year, up to the overall allowance of £20,000.
  • The tax-free rate means that interest is exempt from income tax.
  • The overall ISA allowance for the tax year 2026/27 is £20,000.
  • 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 9 April 2026.

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

Instant Access Cash ISA Terms and Conditions

Instant Access Tracker Cash ISA Summary Box

Other Important Information:

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 Instant Access Tracker Cash 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 a Instant Access Tracker Cash ISA simply click below.

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

Apply Online

 

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