Accessibility Help

Fixed Rate Cash ISA to 23 September 2026

melton tax free savings accounts

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.

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  Once the product has been withdrawn, you will not be able to pay in any further funds to this account.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.

This account is currently closed to new customers

Account name Fixed Rate Cash ISA to 23 September 2026
What is the interest rate?
4.45% tax-free / 4.45% AER
Scroll for more >

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 fixed for the term of the investment, fixed until 23 September 2026.

For full details please read our Savings Terms and Conditions. 

What would the estimated balance be at the end of the term based on a £1,000 deposit?

Based on the current rate of interest, if you deposited £1,000 in this account, at the end of the term 23 September 2026 you would have £1154.88.

(This figure is only an estimate, based on an opening date of 7 June 2023 and 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 £1000 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.

Please note that we do not allow transfers of Stocks & Shares ISAs.


  • Investments must be in your sole name only
  • You may subscribe to only one Cash ISA in any one tax year
  • You must be resident and ordinarily reside in the UK
  • You will be and must remain in beneficial ownership of the investment and it must not be used as security for a loan
  • The Society will notify you, if by reason of any failure to satisfy the provisions of the ISA Regulations, your Cash ISA has, or will, become void
  • In the event of death before 6th April 2024, any interest due up to the date of death will qualify for income tax exemption, but not thereafter as the account will cease to be an ISA
  • In the event of death on or after 6th April 2024, 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 a) the completion of the deceased's estate; b) the day after the 3rd anniversary of the investor's death, or c) the closure of the account.
  • In the event of you opening a Cash ISA, the application remains valid for subscriptions made in the next and consecutive years. However, where a break between subscriptions lasts for a whole tax year, we will need a fresh application before subscriptions can recommence.


This account is limited - once the account has been withdrawn from sale, no further deposits will be accepted.

To open an account, please visit one of our branches. Manage your account by visiting a branch or by forwarding your written instructions to us.

Can I withdraw money?

Early withdrawals are not permitted during the fixed rate period.

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 160 days’ interest.

Withdrawals are subject to the limits explained in our savings terms and conditions.

Additional information

Fixed Rate Maturity Process - The Society will write to you 14 days before the date of maturity to set out your options. You will be invited to reinvest your maturing funds into an alternative product, transfer to an existing MMBS account or withdraw the balance. If we do not receive your instructions before the date of maturity, your money will default into Easy Access ISA account. If your funds are automatically reinvested into our Easy Access ISA account, you can access your money without providing notice. We will help you switch to another account, or we will give all your money back with any interest it has earned

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.