Why Choose Us Contact Us The Wildelife Trusts
Call us on 01664 414141 between 9am and 6pm Monday to Friday and 9am and 12pm on Saturdays
 

Offset Share Savings

offset share savings the melton

An offset share savings account means you may be able to offset your savings against your mortgage and only pay interest on the difference.

Product Name Minimum Balance Interest Paid Gross Interest % AER % Withdrawals
Passbook Offset Share Savings n/a n/a n/a n/a Easy Access
Online Offset Share Savings n/a n/a n/a n/a Easy Access. Online withdrawal limit of £10,000 per day.
Tax treatment depends on individual circumstances and may be subject to change in the future

An offset share savings account means you may be able to offset your savings against your mortgage and only pay interest on the difference. You will not earn any interest on any balance in the Offset Share account as any investment up to the maximum limits permitted is being used to reduce the amount of interest charged on your mortgage.

Offset Share accounts are the only savings accounts which can be linked to a mortgage. An Offset Share can only be linked to one mortgage. The mortgage will be linked with an Offset Share to reduce the amount of interest charged on the mortgage. Mortgage interest will be calculated on the daily difference between the mortgage balance and the share account balance.

The Society has two Offset Share Savings accounts – the Passbook Offset Share Savings and Online Offset Share Savings.

View our mortgages

Take a look at our Handy Guide to making the most of your savings.

Here to help
Not sure which account is right for you? Get in touch and our experienced staff will be happy to talk you through your options and help find the best offset savings account for you.

How safe are your savings?
You may be worried that if you tie your money up in a savings account, it won't be protected. However, the Financial Services Compensation Scheme is an independent body that serves as a last resort to cover most deposits, including savings up to the value of £85,000. So, if for some reason your bank or building society failed, your money is protected by the FSCS.

Click here for our handy guide to making the most out of your savings

Get In Touch

Call one of our friendly advisors on 01664 414141. Opening hours 9am to 6pm Monday to Friday and 9am to 12pm on Saturday.

Request a Call Back

Leave your details and we will call you back.

News

Keep up to date with the latest news, products and competitions from the Melton.

captcha