Melton Variable Rates

On 7th of November 2024 the Bank of England’s Monetary Policy Committee (MPC) met and decided to decrease the Bank Base Rate by 0.25% to 4.75%.

As a result, we will be making the following changes:

Mortgages

Base Rate Tracker Mortgages to reduce by 0.25% with effect from Sunday 1st December 2024.

Standard Variable Rate (SVR) to reduce by 0.25% to 8.44% with effect from Saturday 1st February 2025.

Historic MBSL (Credit Repair) SVR to reduce by 0.25% to 8.94% with effect from Saturday 1st February 2025.

If you have any concerns about financial difficulty, please contact the Mortgage Services Team on 01664 414141 so we can help support you.

Savings

We are currently reviewing market changes following the recent announcement by the Bank of England and will communicate any changes once a decision has been made.

Please bear with us – our telephone lines may be busier than usual as we help our customers.

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Postal Savings

Product name Minimum balance Interest paid Gross interest % AER % Withdrawals Add to brochure download
Regular Saver 5 Find out more £0-£5,999
£6,000+ 		Annually
Annually 		5.00
2.50 		5.00
2.50 		Easy Access
180 Day Notice Account (Annual Interest) Find out more £500+ Annually 4.35 4.35 180 days' notice
Regular Saver 6 Find out more £0+ Annually 6.00 6.00 Easy Access
Fixed Rate Savings to 24 June 2026 (Annual Interest) Find out more £1,000+ Annually 4.20 4.20 Not permitted during fixed rate period
Limited Access Saver Find out more £1,000+ Annually 3.75 3.75 Limited to 3 withdrawals per calendar year
30 Day Notice Account Issue 2 Find out more £100+ Monthly 2.50 2.53 30 days' notice
Young savers Find out more £5+ Annually 3.00 3.00 Easy Access
Instant Access Share Account Find out more £1+ Monthly 1.50 1.51 Easy access
Tax treatment depends on individual circumstances and may be subject to change in the future

Here to help
Not sure which account is right for you? Get in touch and our experienced staff will gladly talk you through your options and help find the best savings account for you.

How safe are your savings?
You may be worried that if you tie up your money in a savings account, it won’t be protected. However, the Financial Services Compensation Scheme is an independent body that serves as a last resort to cover most deposits, including savings up to the value of £85,000. So, if for some reason your building society failed, your money would be protected by the FSCS.

The Society’s bank account details, which are used for paying money in to your account electronically, are as follows: 

Sort Code: 40-05-30
Account number: 74574915
Account type: Personal
Reference: Your Melton Building Society account number
Name on account

Gross rate is the contractual rate of interest payable without tax taken off.
AER stands for annual equivalent rate and shows what the rate would be if interest was paid and compounded each year. Because every advert for a savings product that quotes an interest rate will contain an AER, you can compare the return you can expect from your savings over time.

Click here for our handy guide to making the most out of your savings

Get In Touch

Call one of our friendly advisors on 01664 414141. Opening hours are 9:00am – 5:30pm Monday to Friday.

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