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.

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 long-term future of the Society.

We will give you thirty days’ notice before any change that would disadvantage you.

For full details please read our Terms and Conditions.

Based on the current rate of interest, if you deposited £1000 in this account, after 12 months you would have £1012.57.

(This figure is only an estimate, based on there being no additional deposits, withdrawals or rate changes in that time with all interest being added to your account. This figure is for illustrative purposes only, and does not take into account your individual circumstances.)

This account is only for UK resident individuals aged 16 and over living in Leicestershire, Nottinghamshire, Lincolnshire or Rutland or to customers who have been members with the Society for 5 years or more.

Accounts can be opened with a minimum amount of £100 and the maximum that can be held in this account is £20,000.

To open an account, simply complete an application form (available from branches or within the How to Apply section below). Limited to 1 account per person. Manage your account by visiting a branch of the Society or by forwarding your written instructions to us.

30 Days’ Notice – you will need to give 30 days’ notice of your intention to withdraw funds. This will be waived if the amount being withdrawn is to be used for all or part of a deposit to purchase a property with a Melton mortgage.

You can make withdrawals from your account by visiting a branch of the Society or by forwarding your passbook with written instructions to us. You can also transfer funds from your account to a nominated bank/building society account.

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

Savers who have met the account requirements will be eligible to apply for a
Melton mortgage with NO application fee or completion fee.

Eligibility for the mortgage ‘no fees’ benefit depends on the account having been open for at least 12 months with a minimum monthly deposit of £100.

The savings account can be opened in your sole name or in joint names (only one account per person), but is for UK resident individuals only aged 16 or over.

You must be aged 18 or over to be eligible to apply for a mortgage. Applying for a mortgage is subject to full underwriting procedures.

This is a summary of the key features of this account. You will still need to read the savings terms and conditions.