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Business Fixed Rate Savings to 22 September 2027

The Melton Business Fixed Rate Savings Account means you earn 3.35% gross on your savings until 22 September 2027.

This account is limited – deposits will be accepted until 01 July 2024 or the product is withdrawn, whichever is later.

Account name Business Fixed Rate Savings to 22 September 2027
What is the interest rate?
3.35% gross / 3.40% AER
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Interest, payable at the end of each month, can be added to the account, transferred to your bank account or transferred to an existing Melton savings account.

Can the Melton Building Society change the interest rate?

The interest rate is fixed for the term of the investment, until 22 September 2027.

For full details, please read our Business Savings Terms and Conditions.

 

What would the estimated balance be at the end of the term based on a £5,000 deposit?
Based on the current rate of interest, if you deposited £5,000 in this account, at the end of the term 22 September 2027 you would have £5587.45.

This figure is only an estimate, based on:

  • an opening date of 28 May 2024
  • there being no additional deposits
  • no withdrawals being made
  • no rate changes in that time with all interest being added to your account

This illustration is just an example to help you compare accounts. It does not take into account any individual circumstances.

How do I manage and open my account?
To open an account, please visit our Business Savings Identification and Verification document here. You can manage your account by visiting a branch of the Society or by sending us your written instructions.

This account is only for Limited Liability Partnerships (LLPs), Public Limited Companies (PLCs) and Partnerships and Unincorporated Businesses registered in the UK.

This account is a deposit account. As such depositors are not shareholders and do not have membership rights but, will be bound by our Rules, a copy of which is available on request.

This account is limited - deposits will be accepted until 01 July 2024 or the product is withdrawn, whichever is later.

The minimum balance on this account is £5,000 and the maximum that can be held in this account is £500,000.

Can I withdraw money?

No, early withdrawals are not permitted during the fixed rate period.

Additional information
Fixed rate maturity process – the Society will write to you before the date of maturity to set out your options. You will be invited to reinvest your maturing funds into an alternative product, transfer to an existing Melton Building Society account or withdraw the balance. If we do not receive your instructions before the date of maturity, your money will default into a 30 Day Notice account. If your funds are automatically reinvested into our 30 Day Notice account, you may withdraw your funds without loss of interest or penalty within 30 days of maturity, after this 30 days’ notice will be required for withdrawal. We will help you switch to another account, or we will give all your money back with any interest it has earned.

This is a summary of the key features of this account. You will still need to read the Business Savings Terms and Conditions.

Tax treatment depends on individual circumstances and may be subject to change in the future

How to apply

Simply download, print and complete the application form using the link below. Please return your completed form, necessary identification and opening cheque to your local branch or post it to Melton Building Society, Mutual House, Leicester Road, Melton Mowbray, Leicestershire LE13 0DB. Cheques should be made payable to the account holder’s name.
You should also read our business savings terms and conditions to ensure you understand this product’s features and conditions.

Your Personal Information

At the Melton we take your privacy seriously and always treat your personal details with utmost care. We promise to keep your information safe and secure and never share it with other companies for marketing purposes.

You can read more about how we collect and process your personal data in our privacy notice, which you can access here.

  1. Gross rate is the contractual rate of interest payable without tax taken off.
  2. It is your responsibility to declare any interest you earn over your Personal Savings Allowance directly to HMRC
  3. Net rate is the rate of interest which would be payable after allowing for the deduction of income tax at the rate specified, currently 20%.
  4. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded each year (as every advert for a savings product which quotes an interest rate will contain an AER, you will be able to compare more easily what return you can expect from your savings over time).
  5. The tax free rate is the contractual rate of interest payable where interest is exempt from income tax.
  6. The Melton Mowbray Building Society is a participant in the Financial Services Compensation Scheme established under the Financial Services and Market Act 2000.
  7. Rate of interest payable depends on individual circumstances and may be subject to change in the future.
  8. Tax treatment depends on individual circumstances and may be subject to change in the future.