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Online 30 Day Notice Issue 2

An online account offering a higher rate of interest than the easy save as we ask for 30 days’ notice for withdrawals.

Account name Online 30 Day Notice Issue 2
What is the interest rate?
2.65% gross / 2.68% AER
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Interest, payable at the end of each month, can be added to the account, transferred to your nominated bank/building society account or transferred to an existing Melton savings account.

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 long term future of the Society.

We will 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?

Based on the current rate of interest, if you deposited £1,000 in this account, after 12 months you would have £1,026.82.

This figure is only an estimate, based on:

  • 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?

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.

Accounts can be opened online with a minimum amount of £1,000 and the maximum that can be held in this account is £250,000.

There is a maximum daily withdrawal limit of £10,000.

You can open and manage your account online 24/7, via our website.

Can I withdraw money?

30 Days’ Notice - you will need to give 30 days’ notice of your intention to withdraw funds from your account. By logging into your online account, you can 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.

Additional information

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

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

Please read our savings terms and conditions to ensure you understand this product’s features and conditions.

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  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.