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Fixed Rate Issue 13 to 23rd June 2027 – annual interest – add interest to account – 34091

Our Fixed Rate Savings Account means you earn 4.20% gross on your savings until 23rd June 2027.

This account is currently closed to new customers

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Account name Fixed Rate Issue 13 to 23rd June 2027
What is the interest rate?
4.20% gross / 4.20% AER
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Add interest to account – interest, payable annually on 31st March, will be added to the account.

How your interest is paid cannot be changed during the life of the fixed term product.

If an interest payment date falls on a non working day, for example a weekend or public holiday, interest payments to your bank account will be made on the next working day.
Can the Melton Building Society change the interest rate?

The interest rate is fixed for the term of the investment, until 23rd June 2027.
What would the estimated balance be at the end of the term based on a £1,000 deposit?

Based on the current rate of interest, if you deposited £1,000 in this account, at the end of the term 23rd June 2027 you would have £1,048.47.

These figures are only an estimate, based on:
• an opening date of 1st May 2026
• no additional deposits
• no withdrawals being made
• no rate changes in that time with all interest being added to your account

These illustrations are 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?

New and existing customers can open and operate this account online via our website, by post or in branch.

These accounts are only for UK resident individuals aged 16 or over. These accounts may be operated by a maximum of two account holders.

The minimum balance on these accounts is £1,000 and the maximum that can be held in these accounts is £500,000.

Any payments you wish to make into this account must be made within 30 days from opening.
Can I withdraw money?

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

Fixed rate maturity process – the Society will contact 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 general Savings Terms and Conditions.
Tax treatment depends on individual circumstances and may be subject to change in the future

This account is currently closed to new customers

AER

  • The Annual Equivalent Rate (AER) shows you what interest rate your savings account will earn over a year.

Annual interest

  • Interest is money that we pay to you based on the amount of savings you hold with us. The rate of interest you will earn is given as a percentage. If your interest is paid annually, this means that you will receive it on a yearly basis. The date you receive this payment will be in the terms of your account.

Cash ISA (Individual Savings Account)

  • This is a type of savings account that is tax-free meaning you don’t pay tax on any interest you earn.

Easy access account

  • This is a type of savings account that allows you to withdraw your money without providing notice.

Financial Conduct Authority (FCA)

  • The FCA are a regulatory body in the UK, operating independently from the government. They are responsible for regulating the financial services industry in the UK, which includes protecting customers and keeping the industry stable.

Financial Services Compensation Scheme (FSCS)

  • The FSCS is a government scheme that protects savings you may hold with us, up to the value of £120,000. It is there to provide compensation if the Society was to fail, and you were to lose money.

Fixed rate

  • A rate of interest that remains the same for a set period of time, as outlined in the terms of your account.

Gross interest

  • This is the interest rate that is payable without the tax taken off.

Maturity date

  • This is the end date of your savings account, if your account has a maturity date this will be specified in your product terms. Once you reach this date, we will contact you to see what you’d like to do with your money.

Monthly interest

  • Interest is money that we pay to you based on the amount of savings you hold with us. The rate of interest you will earn is given as a percentage. If your interest is paid monthly, this means that you will receive it on a monthly basis. The date you receive this payment will be in the terms of your account.

Notice account

  • This is a type of savings account that requires you to notify us a set number of days before you wish to make a withdrawal, the amount of notice you need to give will normally be detailed in the terms of your account.

Penalty

  • This is a charge you may incur if you don’t stick to the conditions of your account. For example, you may incur a penalty if you make a withdrawal from a notice account without serving the full notice period.

Personal Savings Allowance

  • This is the total amount of interest you can earn across all your savings accounts, not including ISAs, over the course of a year without paying tax. This includes all savings accounts that you may hold across different providers. More information can be found here: https://www.gov.uk/apply-tax-free-interest-on-savings

Prudential Regulation Authority (PRA)

  • The PRA form part of the Bank of England. They are a regulatory body responsible for the prudential regulation and supervision of banks, building societies, credit unions, insurers and major investment firms.

Regular savings account

  • This is a type of savings account where you can make deposits into the account on a monthly basis. Some regular savings accounts may have limits on how much you can deposit per month and how many withdrawals you can make.

Variable rate

  • A rate of interest that can go up or down during the lifetime of your savings account.
Click here for our handy guide to making the most out of your savings