Monmouthshire Building Society savings rates — compare every account, plus switch offers and guides

Who they are

Monmouthshire Building Society is based in Newport, Wales, and traces its roots back to 1869. Unlike a bank, it is owned by its members - it has no shareholders to satisfy, so profits are reinvested back into the society. It operates through a network of branches and agency offices along the M4 corridor from Chepstow to Swansea, with a branch in Brecon and agency offices in the South West of England too. It is a relatively small, community-rooted institution - not a household name - but it turns up on the radar of serious savers for one specific reason: its regular saver.

Savings accounts

The standout product here is the Regular Saver Account, currently paying 6.00% variable with instant access and no minimum balance. What makes it genuinely interesting is the monthly deposit cap of £500 - higher than most rivals - and the fact that no linked current account is required. On the numbers, if you pay in the full £500 every month, you pocket around £195 in interest over the year. That is more in your pocket than several accounts paying a higher headline rate, purely because the cap lets you put more in.

Beyond that, the range covers a few Cash ISA options. The Instant Access Tracker Cash ISA pays 3.25% variable on as little as £1. For those happy to lock money away, there is a 1 Year Fixed Rate Cash ISA at 4.00% and a 2 Year Fixed Rate Cash ISA at 3.95%, both requiring a £1,000 minimum and no access until maturity. The Access Bonus Account is an easy access option at 3.50% variable, though the headline rate includes a 0.50% bonus on a 3.00% base - and you can only make one withdrawal per year without losing that bonus.

All accounts carry FSCS protection up to £120,000, which is above the standard £85,000 limit you see on most high-street savings accounts - worth noting if you plan to hold a larger balance.

Is it right for you?

Monmouthshire Building Society is not going to win on breadth. There is no current account, no switch bonus, and the cash ISA rates sit below what the top easy-access ISA providers are offering right now. But if you are disciplined about saving a set amount each month and you do not want to open a new current account just to access a competitive regular saver rate, it is genuinely hard to beat on that specific product.

It suits savers who value straightforward mutual ownership, a higher-than-average FSCS limit, and a regular saver they can actually max out. It is less suited to anyone hunting the absolute top rate across every account type.

As always, rates on the regular saver and ISAs are variable and can change - check the live figures shown on this page before you apply.