|Account Name||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-term future of the Society.
We will give you thirty 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 £1000 in this account, after 12 months you would have £1010.00.
(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?||
This account is only for UK resident individuals aged 16 or over living in Leicestershire, Nottinghamshire, Lincolnshire or Rutland or to customers who have been members with the Society for 5 years or more (subject to an exception for certain Crown employees, their spouse or registered civil partner).
From 6 April 2018 the overall ISA subscription limit for 2018-19 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 not permitted.
To open an account, simply complete an application form (available from branches or within the How to Apply section 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 - on receipt of your instruction, and within the time stipulated by you, all or part of the investments held in the ISA and proceeds arising from those investments, shall be transferred or paid to you.
On receipt of a transfer instruction from a new manager, we will send the cash and accompanying information to the new ISA manager within 5 business days of the date of receipt.
Withdrawals are subject to the limits explained in our savings terms and conditions.
Cooling off period
We will help you switch to another of our accounts or we will give all your money back with any interest it has earned. We will ignore any notice period and any extra charges.
This is a summary of the key features of this account. You will still need to read the savings terms and conditions.
Simply download, print and complete the application form using the link below. Please return your completed form, necessary identification and opening cheque to your local branch or post it to The Melton, Mutual House, Leicester Road, Melton Mowbray, Leicestershire LE13 0DB. Cheques should be made payable in the name of the account holder.
You should also read our savings terms and conditions to ensure you understand the features and conditions of this product.
Call one of our friendly advisors on 01664 414141. Opening hours 9am to 6pm Monday to Friday and 9am to 12pm on Saturday.
Leave your details and we will call you back.