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Regular Saver 4

If you have some spare cash to set aside each month, our Regular Saver 4 is a great way to help your money grow.

This account is currently closed to new customers

Account name Regular Saver 4
What is the interest rate?
5.50% gross / 5.50% AER
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The interest rate is variable. The account end date of this product is 19/11/2025.

Interest is calculated on a daily basis and added to the account annually on 31 May.
Can the Melton Building Society change the interest rate?

The interest rate is variable, which means we reserve the right to change it 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 12 monthly deposits of £150?

Based on the current rate of interest, if you deposited £1,800 in this account, after 12 months you would have £1,854.08.

 

This projection is for illustrative purposes only and is based on the following assumptions:

  • An account opening date of 01/10/2023 with a £150 deposit, followed by 11 monthly deposits of the same amount on the first of each month
  • No change to the interest rate during the 12 months
  • Interest being paid straight into your account
  • No withdrawals
What would the estimated balance be after the 26 month term, based on 26 monthly deposits of £150 totalling £3,900?

Based on the current rate of interest, if you deposited £3,900 in this account, at the end of the term you would have £4,157.65.

 

This projection is for illustrative purposes only and is based on the following assumptions:

  • An account opening date of 01/10/2023 with a £150 deposit, followed by 25 monthly deposits of the same amount on the first of each month.
  • No change to the interest rate during the fixed term period
  • Interest being paid straight into your account
  • No withdrawals
How do I manage and open my account?

The maximum amount that can deposited in one calendar month is £150. The maximum amount that can be held in the account is £4,500 (assuming the maximum subscription is added each month, with interest added to the account).

You can miss as many monthly payments as you like, however missed payments cannot be made up in subsequent months.

Withdrawals have no effect on the deposit limits. This means that if you deposit £150 in the account and subsequently make a withdrawal, you will not be able to replace the withdrawn funds.

Limited to one account per person. To open an account, please visit one of our branches or see how to apply below. Manage your account by visiting a branch of the Society or by forwarding your written instructions to us.
Can I withdraw money?

Easy access - you can make withdrawals from your account without notice or penalty, 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.
Tax treatment depends on individual circumstances and may be subject to change in the future

This account is currently closed to new customers

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

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

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