Monmouthshire Building Society has launched a one-year fixed rate cash ISA with 4% AER/tax free for the year.
The ISA will only be able to be opened via the Monmouthshire Building Society’s app.
The new app-only fixed rate ISA can only be used for new ISA funds, with no transfers, and the minimum balance of the ISA is £1,000. Only those aged 18 and over can open the ISA. Money can be deposited into the account within the first 30 days of opening, with a maximum balance of £20,000.
Because it is a one-year fixed-rate ISA, no withdrawals can be made from the account until the end of the fixed term. If a withdrawal is made earlier, a charge equivalent to 90 days’ loss of interest will be applied to the final balance.
Eleanor Crees, Senior Product Manager of Monmouthshire Building Society, said:
“We are really proud to be bringing this app-only ISA product to the market, and with such a competitive interest rate.
“In the Autumn budget, it was announced that from April 2027 you will only be able to save up to £12,000 a year into a cash ISA if you are under 65 years of age. Therefore, the 2026/27 tax year will be the last chance that those under 65 will have to save up to £20,000 in a cash ISA.”
Eleanor added:
“Thanks to our app, customers can control their finances from the palm of their hand, but once opened, they can also pop into our branches and hubs to manage their investments.”
