Instant Access Account

If you would like the option of unlimited no notice withdrawals and deposits through your local branch or by post, our Instant Access Account may be right for you.

  • Save in branch or by post
  • Save from £1 to £1 million
  • Interest is calculated on your daily balance and paid annually
  • Unlimited withdrawals and closure permitted

Product details

Account name - Instant Access Account

  Interest rate Balance Gross* p.a. AER†
Variable £1 - £1,000,000 0.10% 0.10%
Open your account in branch or by post

Once your account is open you can manage your account in one of our branches or by post. 

You can save from £1 and enjoy instant access to your savings

You don't have to give any notice or lose any interest for making a withdrawal. You can withdraw from £1 to £500 from any branch per day, or up to your maximum account balance by cheque per day, as long as you don't fall below the minimum balance of £1.

Interest is calculated daily and paid on 1 January every year

Interest is calculated on your daily balance and paid annually into this account, into any other Principality account or into another bank or building society account.

Service Charges and Cost Related Charges may apply to your account, these are outlined in our Tariff of Charges.

Variable account rates could increase or decrease. Customers will be given personal notification of any material reduction in interest rates a reasonable time before the change takes effect or, if the Account is a payment services account, 60 days before the change takes effect. To understand why rates may be reduced please refer to page 12 of the Savings Terms and Conditions.

In certain circumstances we may refuse an instruction to operate an account. These circumstances are outlined on page 5 of the Savings Terms and Conditions.

Summary information

Summary Box - key product information for our savings account(s)

Account name - Instant Access Account

  Interest rate Balance Gross* p.a. AER†
Variable £1 - £1,000,000 0.10% 0.10%

Tax status

Interest will be paid gross, which means interest is paid to you without tax being deducted from it. If the total amount of interest you earn exceeds your Personal Savings Allowance then you may have to pay tax directly to HM Revenue and Customs. For more information please refer to our handy guide to the Government’s new changes to tax free savings or visit www.gov.uk and search ‘Personal Savings Allowance’.

Conditions for bonus payments
Not applicable.

Withdrawal arrangements 
You do not have to give notice. You can withdraw from £1 to £500 from any branch per day, or up to your maximum account balance by cheque per day, as long as you don't fall below the minimum balance of £1. 

Access
You can open and operate your account in branch or by post.

Service Charges and Cost Related Charges may apply to your account, these are outlined in our Tariff of Charges.

Variable account rates could increase or decrease. Customers will be given personal notification of any material reduction in interest rates a reasonable time before the change takes effect or, if the Account is a payment services account, 60 days before the change takes effect. To understand why rates may be reduced please refer to page 12 of the Savings Terms and Conditions.

In certain circumstances we may refuse an instruction to operate an account. These circumstances are outlined on page 5 of the Savings Terms and Conditions.

Help & guidance

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Terms & conditions

Instant Access Account Terms & Conditions

As you will be bound by the Account Terms of the account, you must read them. If you do not understand any of the terms and conditions please contact us for further information.

We recommend that you print and keep a copy of these terms and conditions for your records.

Please also read the following:

  • 6th largest UK building society
  • A mutual building society, owned by and run for the benefit of our 500,000 members
  • Over 150 years experience
  • Taking care of over £8 billion of our customers' assets

* Gross is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.

† AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest were paid and compounded once each year.


savings

Instant Access Account