Whatever you’re saving for, our building society savings accounts will keep your money safe while you watch it grow.
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.
No matter where you are in life, our range of accounts gives building society savers the chance to save in a way that suits them.
- We offer a friendly, personal service that you might not get with bigger financial organisations.
- We're a mutual building society. This means that, unlike traditional banks, we don’t have any shareholders - so our main purpose is to benefit our customers. Any profits we make are re-invested into the Society, so we can offer you a better range of products and an improved service.
- As a building society, we operate in our customers’ best interests. In addition, our personal building society savings accounts are protected by the Financial Services Compensation Scheme (FSCS), up to the applicable amounts.
We offer a wide range of building society savings accounts, including instant access savers, limited access savers, building society regular saver accounts, notice accounts, cash ISAs, fixed-term bonds, and children’s savings. Some products are exclusive to existing customers.
Need quick access? Choose instant access. Want a better rate and can limit withdrawals? Try a limited access saver. Saving monthly? A regular saver is designed for that. Don’t need the money for a while? Look at notice accounts or bonds. Want tax-free interest? Use a Cash ISA. Whatever your goals, our building society savers offer flexible options to help you reach them.
Interest is shown as AER (Annual Equivalent Rate) which describes what the interest rate would be if interest was paid and compounded once each year, so you can compare accounts fairly. All of our building society savings accounts are designed to make your money work harder over time.
Yes. Eligible deposits in MonBS building society savings accounts are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per person, or £240,000 for joint accounts. This gives our building society savers peace of mind that their money is protected.
Many people don’t, thanks to the Personal Savings Allowance: up to £1,000 of interest for basic-rate taxpayers and £500 for higher-rate taxpayers. Interest earned in a Cash ISA is tax-free and doesn’t use that allowance.
You can find out more about paying tax on interest from savings on the government website: https://www.gov.uk/apply-tax-free-interest-on-savings.
A Cash ISA lets you save without paying tax on the interest. There’s an annual ISA allowance set by the UK government. You can also transfer ISAs between providers while keeping the tax-free benefits.
You lock your money away for a set term at a fixed rate. This gives certainty on the return, but you usually can’t withdraw until the term ends. Always check the length of the bond and how interest is paid before applying. You can view our bonds here - Fixed Rate Bonds | Monmouthshire Building Society.
Yes. Many customers use more than one account to separate their savings goals. Some products, such as the Regular Saver, are limited to one per person, so check the rules for each account. Having multiple savings accounts can also help spread your money across different goals.
Depending on the specific product, you can apply through the MonBS app, online, in a branch, or via an agency. You’ll need ID and proof of address. Once set up, you can manage your savings in the app, online (where available), in branch or via an agency.
We provide savings accounts for young savers - along with accounts that adults can open on a child’s behalf. They’re a great way to start saving early and help the next generation of building society savers build good habits for the future.
