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|Account Name||Fixed Rate Cash ISA to 29 May 2024|
|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 fixed for the term of the investment. The investment is for a term to mature on 29 May 2024.
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?||
Based on the current rate of interest, if you deposited £1000 in this account, at the end of the term 29 May 2024, you would have £1033.29.
(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 (subject to an exception for certain Crown employees, their spouse or registered civil partner).
From 6 April 2022 the overall ISA subscription limit for 2022-23 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.
This account is limited - once the account has been withdrawn from sale, no further deposits will be accepted.
To open an account 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?||
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 90 days’ interest.
Withdrawals are subject to the limits explained in our savings terms and conditions.
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 may cancel it within 30 days of maturity. We will help you switch to another account or we will give all your money back with any interest it has earned. We will ignore any notice period and any extra charges.
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.Your Personal Information
At the Melton Mowbray Building Society we take your privacy very seriously and always treat your personal details with utmost care. We promise to keep your information safe and secure and never share this with other companies for marketing purposes.
You can read more about how we collect and process your personal data in our privacy notice which can be accessed here.
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.
Following the Bank of England Base Rate increase from the 5th May we are reviewing our product rates.
Please also bear with us as our telephones lines will be busier as we help our customers