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|Account name||100 Day Notice Cash ISA|
|What is the interest rate?||
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Interest is calculated on a daily basis and added to the account annually on 31 March.
|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-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?||
Based on the current rate of interest, if you deposited £1,000 in this account, after 12 months you would have £1037.50.
(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.)
|How do I manage and open my account?||
To open an account, please visit one of our branches.
This account is only for UK-resident individuals aged 16 or over (subject to an exception for certain Crown employees, their spouse or registered civil partner).
From 6 April 2023 the overall ISA subscription limit for 2023-24 will be £20,000. New subscriptions can be split in any proportion between Cash and Stocks and Shares ISAs as the saver chooses. However, a saver will only be able to pay into a maximum of one Cash ISA and one Stocks and Shares ISA each year.
Accounts can be opened with a minimum amount of £25 and the maximum that can be held in this account is £500,000. You may invest up to the maximum Cash ISA limit in a single tax year.
Withdrawals have no effect on the subscription limits. This means that once the limit has been reached for the tax year, you cannot make any further investments in that year regardless of any withdrawals made.
Transfers in of ISA funds are permitted – please visit one of our branches for details.
To open an account, please visit one of our branches. Manage your account by visiting a branch or by sending us your written instructions.
|Can I withdraw money?||
100 Days’ Notice – on receipt of your instruction, and within the time stated by you, all or part of the investments held in your ISA and proceeds arising from those investments, must be transferred or paid to you. This is subject to a penalty of the loss of 100 days’ interest or after 100 days’ notice is given when no interest penalty will be applied.
Transfers out – on receipt of a transfer instruction from a new ISA manager, we will send the cash and accompanying information to the new manager within 5 business days of receipt. Subject to a penalty of the loss of 100 days’ interest or following 100 days’ notice being given when we won’t apply any interest penalty.
Withdrawals are subject to the limits explained in our savings terms and conditions.
This is a summary of the key features of this account. You will still need to read the savings terms and conditions.
Call one of our friendly advisors on 01664 414141. Opening hours 9am to 6pm Monday to Friday and 9am to 12pm on Saturdays.
Leave your details and we will call you back.