Member Regular Saver
Save regularly for something special
Interest is paid annually on 31 January and can be added to your Member Regular Saver account or paid to a bank account. Once added to the account interest becomes subject to the same withdrawal conditions as the capital.
*Interest is paid without tax deducted. Some savers will be required to pay tax on savings interest; this should be arranged directly with HMRC through your tax return.
**AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added once each year.
This monthly savings account has a variable rate of interest. We may vary the rate if we reasonably believe the change is needed. For full details please refer to section 12.3 of the General Savings Account Terms and Conditions.
This projection is for illustrative purposes only.
This is based on a monthly deposit of £100 and assumes no withdrawals are made, no changes are made to the current interest rate and interest earned is added to the account.
You can open and manage this account online or in branch.
You must fund the account within seven days of opening.
The minimum balance is £10 and the maximum balance is £50,000.
The account must be credited with between £10 and £3,000 per calendar month. You can make as many deposits as you like per month provided you do not exceed the £3,000 limit.
If more than one monthly payment is missed in a calendar year the account will be transferred to an Easy Access Saver account and interest rate, or the nearest equivalent if this account is no longer available, without further notice.
You can pay into your account by electronic payment, or by cash or cheque.
When electronically transferring money into the account please ensure that you quote all of the following numbers:
Sort Code: 20-49-16
Account Number: 70608386
Reference: Your MHBS 11 digit account number
Customers may only have two Member Regular Saver accounts open at a time, either solely or jointly, with a combined maximum deposit of £3,000 per month.
You can make withdrawals for any amount by giving 30 days’ notice.
You can access your account in branch or online.
This account is available to members only. This means current borrowers or savers who have held their account for six months or more.
You must be a permanent UK resident and aged 18 or over.
For under 18s the account must be opened by an adult in the capacity of a Trustee.
For full terms and conditions for savings accounts, please refer to our General Savings Accounts Terms and Conditions.
We reserve the right to close your account and return the funds to you.
In the event of any conflict between these Member Regular Saver Terms and Conditions and the General Savings Account Terms and Conditions, the product Terms and Conditions take precedence.
This product may be withdrawn at any time and without notice.