4.87% AER / 4.78% gross

AER stands for Annual Equivalent Rate. This shows you what the interest rate

would be if interest was paid and compounded once each year.

Gross is the rate of interest payable before income tax is deducted.

Interest is calculated daily and is payable annually on the anniversary of

opening and at maturity for the Fixed Term Deposit.

Interest will be paid gross without prior deduction of tax.

The interest rate applicable to this Fixed Term Deposit is fixed once your application is approved and you fund this Fixed Term Deposit. The interest rate will stay the same throughout the duration of the fixed term. 

Should Monument amend the rate advertised before you have fully transferred funds and the rate is lower than the rate you originally ordered, you will have 14 days to cancel your application, and your original deposit amount will be returned to your Raisin account. Raisin UK will contact you if this occurs.

The estimated balance after 3 months on a deposit of £1,000 at an interest rate of 4.87% AER is £1,011.95.

For the purposes of this calculation we assume that:

• You make a deposit of £1,000 on the Fixed Term Deposit opening date

• You make no further deposits or withdrawals

• The interest is paid into the Fixed Term Deposit at maturity of the fixed termThis projection is for illustrative purposes only and does not take into account individual circumstances.

To open this Fixed Term Deposit you must apply online through Raisin UK. Savings accounts at Raisin UK are only available through this online application process, and to be eligible to apply for this Fixed Term Deposit, you must:

• Be an individual, a UK resident and aged 18 or over;

• Hold a UK bank or building society account from which you will   fund your application;

• Have a valid mobile phone number and email address;

• Have a UK National Insurance Number; and

• Only use this savings account for personal purposes, not business purposes

Your application acceptance will be subject to the successful completion of Anti-Money Laundering/Know Your Customer (AML/KYC) checks. 

The minimum account balance for this Fixed Term Deposit is £1,000, and the maximum balance you can have across all savings accounts you hold with Monument Bank via Raisin UK is £85,000.

You can manage this Fixed Term Deposit through Raisin UK by logging into your Raisin UK Account. You can contact Raisin UK by telephone, by email or in writing by using the contact details provided in the Raisin UK Terms & Conditions.

It can take up to 2 business days for this Fixed Term Deposit to be set up and start earning interest.  For more information, please see the Raisin UK Terms & Conditions and Meteor Asset Management Terms & Conditions.

Please ensure you have read all of terms and conditions before applying for this Fixed Term Deposit.

You have the right to close this Fixed Term Deposit without charge and without giving any reason within 14 calendar days from the day it is opened. 

After these 14 days, you cannot withdraw funds from this Fixed Term Deposit prior to the expiry of the fixed term, except if an account holder dies, becomes mentally incapacitated or bankrupt, or in any other exceptional circumstances agreed to by Raisin UK.  

At maturity, funds will be returned to your Raisin UK Account. Please refer to the Raisin Terms & Conditions and Meteor Asset Management Terms and Conditions for further information. If the maturity falls on a non-working day (either weekend or public holiday), your funds will be returned within the next 2 working days and additional interest will be paid for the non-working days. e.g. If the maturity date is on a Saturday and funds are returned on the Monday, interest will be paid for the Saturday and Sunday.

Monument may close your Fixed Term Deposit with immediate effect if there are exceptional circumstances affecting its business. In these circumstances your funds will be returned along with any accrued interest.

Privacy Notice

Please see Monument’s Privacy Notice (www.monument.co/privacy) for information on how it processes personal data.

Terms and Conditions

These Terms and Conditions are between Monument Bank Limited (“Monument”) and Meteor Asset Management (“MAM”) and apply to any Monument deposit account opened by Raisin Platforms Limited (“Raisin UK”) on your behalf via the Raisin platform.

Please see the Raisin UK Terms and Conditions and the Meteor Asset Management  Terms and Conditions for more information.

Meteor Asset Management, with its administration arm Meteor Investment Management, will administer the monies in this Fixed Term Deposit on your behalf. 

These Terms and Conditions are not binding between you and Monument, and you will not become a customer of Monument.

These Terms and Conditions incorporate the Monument Bank Fixed Term Deposit Summary Box which sets out the interest rate and key features of this product.

Monument may need to make changes to these Terms and Conditions if it has a valid reason. For example this could be, but not limited to the following:

• to comply with changes in law, industry codes or regulatory requirements;

• to reflect changes in the systems, schemes or suppliers it uses;

• to reflect changes in inflation or the costs it reasonably incurs in providing accounts or services; or

• to make these Terms and Conditions clearer or more favourable.

Monument will usually provide at least 30 days’ notice of all changes. If any changes are to be made you will be notified in writing. 

Financial Services Compensation Scheme (FSCS)

Eligible deposits benefit from FSCS protection up to the maximum amount of £85,000 (for deposits held on an individual basis. The applicable limit will apply to the aggregate amount you place with Monument Bank directly and through any savings platform (such as Raisin).