Exclusive Cash ISA

• 4.10% 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.

• 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 14 days notice.

• £1,041.00
• 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.

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.

• 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.
• 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.

• 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 14 November 2024.