Monmouthshire Building Society
£65 Free Cash
Regular Saver (6.0%)£65profit
17mins to complete
Offer overviewChris · Your personal guide
Monmouthshire Building Society is a UK building society offering savings accounts, ISAs, fixed-term bonds and mortgages.
About £65 more than an easy-access account on the same deposits, and the biggest monthly allowance here: 6% on up to £500 a month for 12 months. No existing account needed, which is rare for a regular saver.
You can withdraw or close at any time, though withdrawn money cannot go back in once you have hit the monthly cap. The rate is variable with 14 days notice, and deposits must land before the 25th of each month.
Key terms
+£65
Interest rate6% AER
(variable)
Monthly depositUp to £500
Term12 months
Total max deposit£6,000
(12 × £500)
Withdrawal termsWithdraw 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 Any money withdrawn can’t be re-deposited that month due to the monthly deposit limit.
Eligibility
- Qualifies:UK residents (excludes Northern Ireland)
Step by Step Guide
Start here
Open a Monmouthshire Regular Saver
10 mins
- 1Download the Monmouthshire Building Society app from the App Store or Google Play
- 2Open 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
Up next · 2 steps
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.
Withdraw your balance
Ends in 12 months2 mins
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
3 steps to £65
Quick review
Monmouthshire Building Society
Wondering whether Monmouthshire Building Society is worth it beyond the bonus? Here is our honest take.
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.
CategoryRegular Savers
Last updated
Chris' verdictYour personal guide, QuidsyFor 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.