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Limited Access Monthly Saver

Home > Savings > Limited access > Limited Access Monthly Saver
Product
Balance
AER
Gross
 
Limited Access Monthly Saver
£1 or more
4.75%
4.75%
Product
Limited Access Monthly Saver
Balance
£1 or more
AER
4.75%
Gross
4.75%

Further information

  • Minimum monthly deposit: £1
  • Maximum monthly deposit: £2,000
  • Total maximum savings over the 12 month period is £24,000 (lump sum payments are not allowed).
  • Maximum account balance £50,000
  • Available to new members and existing members aged 16 years and over residing in the United Kingdom.
  • One account per person, solely or jointly.
Summary Box
Account NameLimited Access Monthly Saver
What is the Interest Rate?
    • Interest is variable and the rate is currently 4.75% Gross/AER*.
    • Interest is calculated daily and paid on 31st March each year..
    • A full list of our current interest rates can be found on our Interest rate poster.
Can the Loughborough Building Society change the Interest Rate?
    • We may change interest rates at any time.
    • For further information about why we may change the rate and how we will tell you about a change, please refer to section 7.4 of the Society’s General Terms and Conditions.
What would the estimated balance be after 12 months based on a £2,000 per month deposit?
    • Based on the current interest rate, if you deposited £2,000.00 into the account on the 1stth of every month over a period of 12 months, you would have £24,615.81
    • Please note that this projection is provided for illustration purposes.
How do I open and manage my account?
    • To open an account you will need to provide a completed application form together with proof of your identity and address.
    • Available to new and existing customers aged 16 years and over, residing in the United Kingdom.
    • Minimum monthly deposit: £1
    • Maximum monthly deposit: £2,000
    • Total maximum savings over the 12 month period is £24,000 (lump sum payments are not allowed).
    • Maximum account balance £50,000.
    • One account per person, solely or jointly.
    • This account can be opened and operated in branch and by post.
    • This is a passbook account.
Can I withdraw money?
    • Withdrawals (including account closure) are limited to one per account year. The account years runs from 1st April to 31st March.
    • All withdrawals are subject to the Society’s daily limits.
Additional Information
    • Deposits can be made by cash or cheque at any branch or agency, by standing order, by post or by internal transfer from another Society account. Deposits must reach the Society by the 28th of each month.
    • This is a limited edition product and may be withdrawn without notice at any time.
    • Interest is payable gross (no tax is deducted). However, you may be liable to pay tax depending on your income, for further details go to GOV.UK and search Personal Savings Allowance.
    • *Gross means the contractual rate of interest payable before the deduction of income tax.  This account is tax free.  AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.

Terms and Conditions

Before opening this account please read our General Terms and Conditions.

Financial Services Compensation Scheme

We are covered by the Financial Services Compensation Scheme (FSCS).  The FSCS can pay compensation to depositors if a building society is unable to meet its financial obligations.  It’s important that you read the FSCS Information Sheet. It provides basic information about the protection of your savings deposits.

Opening an account is easy and you can do that in any of our branches or by post.

Simply download, print and complete the application form.  Then return your completed form, necessary identification and opening cheque to your preferred branch or post it to Loughborough Building Society, 56 Woodgate, Loughborough, LE11 2TZ, alternatively, you can scan your completed, signed application and identity documents to [email protected]. An electronic payment can be made once the account is opened.

Cheques must be payable to the account holder.

For postal applications we will accept photocopy or scanned documents, not photographs. The copy must be a clear, readable version of the full original document.

You should read all the product information to ensure this account is right for you and also the Financial Services Compensation Scheme Information Sheet and our General Terms and Conditions.

Download an application form