Regular monthly saver accounts are an ideal way to save for a special occasion or just to build up your savings over time, enabling you to save regularly instead of depositing a lump sum. Regular savers accounts, generally known as monthly saver accounts, have the additional advantage of helping you to learn important savings habits and understand how to save routinely.
You can open one of our Regular Monthly Saver accounts with as little £25 and make regular deposits to experience one of the societies best savings rates. Withdrawals are not restricted offering instant access if needed which is a great option to save for anything special with the added knowledge you can withdraw without giving notice if needed.
If any of the following apply to you, perhaps it's time to think about opening a Regular Monthly Saver account:
Save £25 - £1,500 every month either by standing order or direct debit from an external bank or building society account or by internal transfer from another account held at the Society (minimum one payment must be received per month by these means). This must reach your account prior to month end. You can "top up" your nest egg by electronic bank transfer, by cash, cheque or from an Instant Access Saver Account held at the Society subject to the total deposited in the month not exceeding £1,500.
You are only allowed to have one Monthly Saver in your sole name or held jointly.
|Account Name||Regular Monthly Saver|
|What is the Interest Rate?||
|Can Swansea Building Society change the interest rate?||
|What would the estimated balance be after 12 months||
|How do I open and manage my account?||
|Can I withdraw money?||
|Specific Terms and Conditions for the Regular Monthly Saver Account||
1.Account opening and Account Holder:
2. Investment Limits:
For all accounts opened from January 2022, you must make one regular payment per month via standing order or direct debit (instructed by us) from an external UK bank or building society account or by internal transfer from another account held at the Society. Additional payments can be made into the account electronically or from an Instant Access Saver Account held at the Society subject to the total deposited in the month not exceeding £1,500. The minimum amount that can be deposited in any one month is £25 and the maximum amount that can be deposited in total in any one month is £1,500. The minimum payment must be received via a standing order or direct debit (instructed by us) payment every calendar month. Where funds are received in excess of this limit, the payment received will be returned in full via the method used to credit the account. We now allow customers to pay in cash or cheques to their Regular Monthly Saver account as long as there is an electronic payment set up for a minimum deposit of £25 per month. *Please note that where an existing customer(s) who opened an account on or before 28.02.23 has an aggregate savings balance in excess of £500k, they will not be allowed to deposit further monies where their combined balances are in excess of these amounts.
6. Payment of balance upon annual anniversary of account opening:
7. Terms and Conditions:
The information provided is a summary of the key features of the savings account and is not intended to be a substitute for reading the Terms and Conditions that apply to the account.
Hard copy - If you would prefer to print off or save the information on this page you can download a PDF here.
Need help - If you would like to speak to one of our friendly team about opening an account and / or to answer any questions you may have, please click here to request a call back or go to our ‘Contact Us’ page for details of how to contact your local branch.