December Mortgage Payments and Savings Interest Payments

28.11.25

Mortgage payments

If your mortgage payment is normally collected on the last working day of the month, please note that it will instead be collected on Monday 1st December. Payments scheduled for Monday 1st December will be collected as usual.

Savings Interest Payments 

We are currently working to process monthly interest payments, where due, for the start of December. These payments will be with account holders by Monday 1st December.

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Limited Access Saver

base rate information

Looking for a different way to save, try our Limited Access Saver

This account is currently closed to new customers

Account name Limited Access Saver - Limited to 3 withdrawals per calendar year
What is the interest rate?
3.25% gross / 3.25% AER
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Interest, payable annually on 31 March, can be added to the account, transferred to your bank account or transferred to an existing Melton Building Society savings account.

Should you need to take money out of your account on more than 3 separate occasions, your account will be closed.
Can the Melton Building Society change the interest rate?

The interest rate is variable, which means we reserve the right to change them to reflect market conditions, to comply with legal or regulatory guidelines and to protect the Society’s long-term future.

We’ll give you fourteen days’ notice before any change that would disadvantage you.

For full details, please read our Terms and Conditions.
What would the estimated balance be after 12 months based on a £1,000 deposit?

If you deposited £1,000 in this account, after 12 months you would have £1,032.50.

This figure is only an estimate, based on:

  • the current rate of interest
  • there being no additional deposits
  • no withdrawals being made
  • no rate changes in that time with all interest being paid 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?

This account is only for UK-resident individuals aged 16 or over. The account may be opened and operated by a maximum of four account holders.

You can only have one Limited Access Saver at a time.

Accounts can be opened with a minimum amount of £1,000 and the maximum that can be held in this account is £500,000.

The account is for new and existing customers.

To open an account, see how to apply below. Manage your account by visiting a branch of the Society or by sending us your written instructions.
Can I withdraw money?

Yes, as this is a limited access account you can take money out of your account up to 3 times each calendar year without having to pay a charge. A calendar year runs from 01 January to 31 December.

A fourth withdrawal within a calendar year will result in your account being closed and you'll receive a charge equal to 100 days' interest based on the account balance at the time of closure. The charge will be deducted from the balance of the account at the time of closure, this means you might get less back than you originally deposited.

A withdrawal is defined as taking money out of your savings account. If you take money out of your savings account multiple times on the same day, each one would count as a separate withdrawal.

If you had an account balance of £1,000 when closing your account your charge, which would amount to 100 days interest, would be £8.90. This figure is an estimate, based on:

  • an interest rate of 3.25% Gross / 3.25% AER applying at the time of closure
  • no additional charges being applied

When your account is closed, you can receive your final balance by cash, cheque or transfer to your nominated account. Transfers to your nominated account can take up to 48 hours.

Withdrawals are subject to the limits explained in our savings terms and conditions.
Additional information

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