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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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Regular Saver

Issue 3

Interest Rate AER / Gross - Variable:  4.75%

Minimum Balance: £1

Minimum / Maximum Regular Deposit: £0 minimum - £300 maximum per month.

Open and manage your account: Online, Branch / 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 Download You wouldn't mind a variable interest rate on your savings.

Green Check Mark PNGs for Free Download You would like to invest small and regular amounts over a 12-month fixed term.

Green Check Mark PNGs for Free Download You have between £1 and £300 available to open the account.

Green Check Mark PNGs for Free Download You would like to manage your account online or in person.

Green Check Mark PNGs for Free Download You would like to open this account online or in person from Monmouthshire Building Society Branches / Agencies.

Not suitable for you if:

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

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

Additional Information:

  • Accounts are limited to 1 per customer. This can be sole or joint.

Click below to expand the Regular Saver Summary Box and Terms and Conditions.

What is the interest rate?
  • 4.75% AER / Gross 
  • The interest rate is variable, which means the rate can go up or down.
  • Interest is calculated daily and paid at the end of the 12-month term.
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 be after 12 months based on a deposit of £300 every month for 12 months?
  • £3,692.41.
  • Based on £300 being paid into the account each month for 12 months, with your first payment being on the day you open your account, and the interest rate doesn’t change.
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


  • The minimum balance is £1.


  • The maximum you can pay in is £300 each month.
  • 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.
Can I withdraw money?
  • Yes, you can take out your money immediately or close your account without giving notice.
  • Keep in mind you may not be able to replace what you withdraw. This is because of the monthly deposit limits.
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 21 November 2023.

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

Regular Saver Terms and Conditions

Regular Saver 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 Regular Saver 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 Regular Saver, you can click below or visit one of our branches or agencies in person. 

Apply Online

FSCS Protected