+£65
Regular Saver (6.0%)17 mins
Monmouthshire Building SocietyRegular Saver (6.0%)
£65 Free Cash•17 mins
£65 Free Cash
+£65What is Monmouthshire Building Society?
Monmouthshire Building Society is a member-owned mutual based in Newport, South Wales. They’ve been helping people save and buy homes since 1869, making them one of the longest-standing building societies in Wales. As a mutual, they’re owned by their members rather than shareholders, and your deposits are FSCS protected up to £120,000.
They offer savings accounts, ISAs, fixed-term bonds, and mortgages. Their branch and agency network covers South Wales, and they also have a mobile app for managing your accounts on the go.
You don’t need an existing account with Monmouthshire to open the Regular Saver. It’s available to new and existing customers, with just £1 needed to get started. You can open it via the MonBS app or by visiting a local branch.
Launched
1869
Key Terms
Profit
+£65
Interest rate
6% AER
(variable)
Monthly depositUp to £500
Term12 months
Total max deposit
£6,000
(12 × £500)
Eligibility: UK residents (excludes Northern Ireland)
Withdrawal terms: Withdraw your money or close your account at any time without notice. Any money withdrawn can’t be re-deposited that month due to the monthly deposit limit.
Step by Step Guide
Chris's overview
Optional·2 min read
The Monmouthshire Regular Saver pays 6% on up to £500 a month for 12 months. That’s around £65 more than you’d earn in a standard easy-access account on the same deposits.
You can withdraw or close your account at any time without notice. Just bear in mind that withdrawn money can’t be re-deposited if you’ve already hit the £500 monthly cap. The 6% rate is variable, so Monmouthshire can change it with 14 days notice. Interest is calculated daily and paid at the end of the 12-month term.
No existing account needed. Download the Monmouthshire Building Society app to apply, or visit a local branch. Make your deposits before the 25th of each calendar month to ensure they count.
1
Open a Monmouthshire Regular Saver
You are here10 mins
- Download the Monmouthshire Building Society app from the App Store or Google Play
- Open a Regular Saver account — you’ll need a minimum of £1 to get started
- The account must be funded within 30 days of opening or it will be closed
- Your 12-month term starts from the date Monmouthshire receives your first deposit
2
Make your first transfer
5 mins
- Transfer your chosen amount (up to £500) into your new Regular Saver
- You can transfer via electronic payment from any UK bank account, post a cheque, or pay in at a branch
- Your deposit starts earning interest immediately at 6% AER
Transfer up to £500 each calendar month
2 min
- Deposits are per calendar month, so transfer early (ideally the 1st) and ensure it arrives before the 25th to earn interest for the full month.
- Automate it: set up a standing order to your Regular Saver. Schedule it for the 1st of the month to maximise your interest.
- Prefer doing it manually? Set a monthly reminder instead.
- You can deposit any amount from £1 to £500 per calendar month.
3
Withdraw your balance365d
2 mins
Your 12-month term ends
- After 12 months, your account automatically switches to Monmouthshire’s Easy Saver at a lower rate
- Move your money to the best available savings account to keep earning a competitive rate
- Monmouthshire will contact you before your term ends with your options
Offer Complete
Done? Tick off each step above to see your total.
Quick Monmouthshire Building Society Review
Completed the offer? Awesome! Here's our full review on why Monmouthshire Building Society could work well for you going forward.
Monmouthshire Building Society at a glance
Updated:
A small Welsh mutual that's been doing the basics well for over 150 years, mostly known these days for a competitive regular saver. Quidsy lists the current Regular Saver as a quick win for anyone who can spare a bit each month. Best for slow-and-steady savers happy banking by app. Heads up: the rate is variable.
Founded
1869
157 years old
For the Regular Saver, yes, if you've got money you can drip-feed in each month. The 6.00% rate paired with the £500 monthly cap means you can put away the full £6,000 over the year and end up with about £6,194, which is a tidy bit more than you'd earn in most easy-access accounts at the same time. The £1 minimum and flexible withdrawals make it pretty low-commitment, so there's not much downside to giving it a go.
The main thing to keep in mind is the variable rate. 6.00% isn't locked in for the full 12 months and the society can drop it with 14 days' notice if the market shifts. Worth checking your account every couple of months to see whether the rate still beats what's available elsewhere.
Beyond that, it's a small Welsh mutual doing what mutuals are supposed to do: pay a competitive rate, treat members like members, and stay out of the FCA's bad books. If you like the idea of supporting a community-focused lender that's been around since the year Tolstoy finished War and Peace, it's an easy yes.
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Firm Reference Number 206052). Your deposits are protected by the Financial Services Compensation Scheme up to £120,000 per person, or £240,000 for joint accounts.