Bank of England Base Rate Update

On the 8th May 2025 the Bank of England’s Monetary Policy Committee (MPC) met and decided to decrease the Bank Base Rate by 0.25% to 4.25%.

Mortgages

Base Rate Tracker Mortgages to reduce by 0.25% with effect from 1st June 2025.

For all other mortgage products, we are currently reviewing market changes following the recent announcement by the Bank of England and will communicate any changes once a decision has been made.

If you have any concerns about financial difficulty, please contact the Mortgage Services Team on 01664 414141 so we can help support you.

Savings

We are currently reviewing market changes following the recent announcement by the Bank of England and will communicate any changes once a decision has been made.

Please bear with us – our telephone lines may be busier than usual as we help our customers.

 

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Online Savings

Access to your savings day and night with our online savings accounts.

Product name Minimum balance Interest paid Gross interest % AER % Withdrawals Add to brochure download
Online Fixed Rate Savings to 30 July 2026 (Annual Interest) Find out more £1000+ Annually 4.15 4.15 Not permitted during fixed rate period
Online Fixed Rate Savings to 27 May 2027 (Annual Interest) Find out more £1000+ Annually 4.00 4.00 Not permitted during fixed rate period
Online 180 Day Notice (Annual Interest) Find out more £1,000+ Annually 4.10 4.10 180 days' notice to withdraw.
Online 30 Day Notice Issue 2 Find out more £100+ Monthly 2.25 2.27 30 days' notice to withdraw.
Tax treatment depends on individual circumstances and may be subject to change in the future

Access to your savings day and night with our online savings accounts. Accounts for those who prefer to manage their money online. Check your balance, view your statements and make transfers online to your nominated account.

We have three online savings accounts – the Online Easy Save, Online Homesave and Online Offset Share savings account.

Take a look at our Handy Guide to making the most of your savings.

Here to help
Not sure which account is right for you? Get in touch and our experienced staff will be happy to talk you through your options and help find the best online savings account for you.

How safe are your savings?
You may be worried that if you tie your money up in a savings account, it won’t be protected. However, the Financial Services Compensation Scheme is an independent body that serves as a last resort to cover most deposits, including savings, up to the value of £85,000. So, if for some reason your bank or building society failed, your money is protected by the FSCS.

The Society’s Bank Account details which are used for paying money in to your account electronically are as follows: 

Sort Code: 40-05-30
Account number: 74574915
Account type: Personal
Reference: Your Melton Building Society account number
Name on account

Gross rate is the contractual rate of interest payable without tax taken off.
AER stands for annual equivalent rate and shows what the rate would be if interest was paid and compounded each year. Because every advert for a savings product that quotes an interest rate will contain an AER, you can compare the return you can expect from your savings over time.

Click here for our handy guide to making the most out of your savings

Get In Touch

Call one of our friendly advisors on 01664 414141. Opening hours are 9:00am – 5:30pm Monday to Friday.

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