Looking for a simple way to grow your savings each month? At Monmouthshire Building Society, our regular saver account for UK residents lets you put away between £1 and £500 a month over 12 months, earning 6.00% AER (variable). It’s a flexible, customer-first way to build the habit of saving, with FSCS protection up to £120,000.
*Excluding Northern Ireland.
Interest Rate AER / Gross - Variable: 6.00%
Minimum Balance: £1
Minimum / Maximum Regular Deposit: £1 minimum - £500 maximum per month.
Open and manage your account: Branch or Agency, or via the App
You must be:
- At least 16 years old.
- A UK resident (excluding Northern Ireland).
May be suitable for you if:
You would like to invest small and regular amounts over a 12-month fixed term.
You have between £1 and £500 available to open the account.
You would like to manage your account online (through My Accounts) or in person.
You would like to open this account in branch or agency, or via the app.
Not suitable for you if:
You would like to deposit a lump sum of more than £500.
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.
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| How do I open and manage my account? |
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It is important that you read the following before deciding to open an account:
Regular Saver Terms and Conditions
Other Important Information:
General Terms and Conditions for Savings Accounts
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.
If you have read and understood all the information provided, and you would like to apply for a Regular Saver, you can either visit one of our branches or agencies in person, or apply via the app.
Download our App here
They’re savings accounts that reward little-and-often saving. You pay in a set amount each month (within limits) for a fixed term - typically 12 months - and earn a competitive rate of interest. They come with a customer-first ethos and FSCS protection up to £120,000 per person.
You can start with a £1 minimum balance, then save £1-£500 per month. That flexibility makes this one of the more practical regular saver accounts for building momentum.
UK* residents (excluding Northern Ireland) aged 16+. One account per customer (can be sole or joint).
Open in-branch, at an agency, or via the MonBS app. Manage it the same way - perfect if you like face-to-face support or mobile convenience.
This Regular Saver is designed for a 12-month saving period. Withdrawals maybe restricted; if you’ll need frequent access, consider MonBS instant/limited-access options instead.
As a guide: Based on £500 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, the closing balance will be £6,194.55.
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.
If you're a basic rate taxpayer, you won't have to pay tax on the first £1,000 of savings income you earn. For higher rate taxpayers, the first £500 of savings income is tax-free. Additional rate taxpayers have to pay tax on all their savings income.
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.
