100 Day Notice Cash ISA Issue 3
A Cash ISA (Individual Savings Account) is an investment which enables annual sums to be saved and on which interest is paid free of tax. However, it is not possible to state that favourable tax treatment will be maintained indefinitely as it is the government and not the Society who is responsible for the tax treatment.
To open an account, please visit one of our branches or see how to apply below.
Whilst this product is available, you can pay in any amount up to the annual ISA subscription limit. Once the product has been withdrawn, you will not be able to pay in any further funds to this account.
This means that you may not be able to utilise your full ISA allowance, unless you deposit £20,000 at account opening.
| Account name | 100 Day Notice Cash ISA Issue 3 | |
|---|---|---|
| What is the interest rate? |
Scroll for more >
Interest, payable annually on 31st March, will be added to your account. If an interest payment date falls on a non working day, for example a weekend or public holiday, interest payments to your bank account will be made on the next working day. |
|
| 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 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 at the end of the term based on a £1,000 deposit? | If you deposited £1,000 in this account after 12 months, you would have £1,027.50. This figure is only an estimate, based on: 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? | New and existing customers can open and operate this account online via our website, by post or in branch. This account is only for UK resident individuals aged 18 or with the exception for certain Crown employees, their spouse or registered civil partner for example a member of the UK armed forces, a civil servant or a diplomat. From 6 April 2026 the overall ISA subscription limit for 2026-27 will be £20,000. New subscriptions can be split in any proportion between cash and stocks and shares ISAs as the saver chooses. A saver will only be able to pay into one cash ISA and one stocks and shares ISA each tax 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. ISA transfers in, either from an existing Melton Building Society ISA or from another ISA provider, are not accepted into this account. ISA rules: • In the event of death on or after 6th April 2026, the account will be designated as a "continuing account of a deceased investor”, or "continuing ISA" and interest accrued before and after date of death will be exempt from tax. The ISA will continue until either: |
|
| Can I withdraw money? | Yes, you can withdraw money as long as you give us 100 days’ notice online via our website, in branch or by sending us your passbook with written instructions. On receipt of your instruction, all or part of the investments held in your ISA including any interest earned, will be transferred or paid to you. You can also access your money without giving notice, but you will be charged 100 days’ interest on the amount you withdraw. If you close your account in the first 100 days, you might get less back than you deposited. 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. This will be subject to a penalty charge of 100 days’ interest, unless 100 days’ notice is provided, in which case we won’t apply a penalty charge. 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 general Savings Terms and Conditions. |
If you are an existing customer, you can open an account through our online portal.
If you are a new customer, you can open this product by clicking the link at the bottom of the page.
To apply in branch or by post, simply download, print and complete the application form using the link at the bottom of the page. Please return your completed form, necessary identification and opening cheque to your local branch or post it to Melton Building Society, Mutual House, Leicester Road, Melton Mowbray, Leicestershire LE13 0DB. Cheques should be made payable to the account holder’s name.
Simply download and complete the application form using the link below. You must also complete the ISA transfer form here . Please return your fully completed forms to Melton Building Society, Mutual House, Leicester Road, Melton Mowbray, Leicestershire, LE13 0DB. We will then contact your existing provider to organise the transfer of your funds within 15 working days of receiving your fully completed forms and a successful electronic identification check. If the check is unsuccessful, we’ll ask you to provide more ID and address verification.
You should read our savings terms and conditions and ensure you fully understand the product features and conditions.
The AER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid and added each year.
This is a tax-free account so interest payable is exempt from income tax. The tax treatment may be subject to change and depends upon your individual circumstances.
At the Melton we take your privacy seriously and always treat your personal details with utmost care. We promise to keep your information safe and secure and never share it with other companies for marketing purposes.
You can read more about how we collect and process your personal data in our privacy notice, which you can access here.
AER
- The Annual Equivalent Rate (AER) shows you what interest rate your savings account will earn over a year.
Annual interest
- Interest is money that we pay to you based on the amount of savings you hold with us. The rate of interest you will earn is given as a percentage. If your interest is paid annually, this means that you will receive it on a yearly basis. The date you receive this payment will be in the terms of your account.
Cash ISA (Individual Savings Account)
- This is a type of savings account that is tax-free meaning you don’t pay tax on any interest you earn.
Easy access account
- This is a type of savings account that allows you to withdraw your money without providing notice.
Financial Conduct Authority (FCA)
- The FCA are a regulatory body in the UK, operating independently from the government. They are responsible for regulating the financial services industry in the UK, which includes protecting customers and keeping the industry stable.
Financial Services Compensation Scheme (FSCS)
- The FSCS is a government scheme that protects savings you may hold with us, up to the value of £120,000. It is there to provide compensation if the Society was to fail, and you were to lose money.
Fixed rate
- A rate of interest that remains the same for a set period of time, as outlined in the terms of your account.
Gross interest
- This is the interest rate that is payable without the tax taken off.
Maturity date
- This is the end date of your savings account, if your account has a maturity date this will be specified in your product terms. Once you reach this date, we will contact you to see what you’d like to do with your money.
Monthly interest
- Interest is money that we pay to you based on the amount of savings you hold with us. The rate of interest you will earn is given as a percentage. If your interest is paid monthly, this means that you will receive it on a monthly basis. The date you receive this payment will be in the terms of your account.
Notice account
- This is a type of savings account that requires you to notify us a set number of days before you wish to make a withdrawal, the amount of notice you need to give will normally be detailed in the terms of your account.
Penalty
- This is a charge you may incur if you don’t stick to the conditions of your account. For example, you may incur a penalty if you make a withdrawal from a notice account without serving the full notice period.
Personal Savings Allowance
- This is the total amount of interest you can earn across all your savings accounts, not including ISAs, over the course of a year without paying tax. This includes all savings accounts that you may hold across different providers. More information can be found here: https://www.gov.uk/apply-tax-free-interest-on-savings
Prudential Regulation Authority (PRA)
- The PRA form part of the Bank of England. They are a regulatory body responsible for the prudential regulation and supervision of banks, building societies, credit unions, insurers and major investment firms.
Regular savings account
- This is a type of savings account where you can make deposits into the account on a monthly basis. Some regular savings accounts may have limits on how much you can deposit per month and how many withdrawals you can make.
Variable rate
- A rate of interest that can go up or down during the lifetime of your savings account.
