Branch 5 Access Bonus Saver Issue 2

Our Branch 5 Access Bonus Saver may be right for you if you want to save when it suits you and like the comfort of knowing you can take money out up to five times each calendar year.

  Interest rate Balance Gross* each year AER†
Without Bonus £1 - £2,000,000 3.55% 3.55%
With Bonus £1 - £2,000,000 4.60% 4.60%
  • Open in branch or at an agency
  • Pay in from £1 to £2,000,000
  • Interest is paid each year on 1 January
  • Additional deposits permitted
  • You can take money out five times in every calendar year
  • Closure permitted but counts as a withdrawal
  • We can stop accepting applications at any time
Summary Box
  Summary Box
What is the interest rate? Interest rate without bonus 3.55% Gross*/AER† (Variable) each year

Interest rate with bonus (variable bonus rate of 1.05% included for the first 12 months) 4.60% Gross*/AER† (Variable) each year

(See the meanings of ‘Gross’ and ‘AER’ at the bottom of this page).

Interest is calculated each day on the money in the account and paid on 1 January every year.

The interest rate you receive will be the rate with bonus for the first 12 months. After 12 months the rate will change to the rate without bonus. We will notify you before this happens.
Can Principality change the interest rate? Yes, both the interest and the bonus rates can go up or down.

If you have £100 or more in the account, we will give notice of any reduction in interest or bonus rates at least 14 days before the change takes effect.

When the interest rate changes to the interest rate without bonus, we will send you a reminder 14 days before this happens, no matter how much money you have in the account.

For more information, see the section Changes to interest rates in our Savings Terms and Conditions.
What would the estimated balance be after 12 months and 24 months based on a £1,000 deposit? Estimated balance after 12 months £1,046.00 (interest rate of 4.60% AER includes variable bonus rate of 1.05% Gross for the first 12 months)

Estimated balance after 24 months £1,083.13 (only the underlying interest rate of 3.55% AER is paid for months 13 to 24)

This is based on no further money being put in or taken out of the account and no change to the interest or bonus rate.
How do I open and manage my account?
  • You must be 16 or over and a UK resident (see your Branch 5 Access Bonus Saver account terms).
  • You can open the account in branch or at an agency.
  • You must keep at least £1 (the minimum balance) in the account.
  • If the account reaches £2,000,000 (the maximum balance), you cannot pay any more money in.
  • If we do not receive your first payment into the account within five business days of the account opening, we will close it.
  • You can manage the account in branch, agency, by post, or by using the online service Your Account at
Can I withdraw money?
  • Yes, you can make five withdrawals from the account every calendar year.
  • Closing the account counts as a withdrawal.
Additional information
  • Service charges and costs may apply to the account. These are set out in our Tariff of Charges.
  • In certain circumstances, we may refuse an instruction for using an account. These circumstances are set out in our Savings Terms and Conditions.
  • If the total amount of interest you earn is more than your tax-free Personal Savings Allowance, you may have to pay tax directly to HM Revenue & Customs (HMRC). For more information, visit and search Personal Savings Allowance.
  • The interest rates quoted above were correct on 09/05/2024.

Before you apply, please read the Branch 5 Access Bonus Saver Issue 2 Terms & Conditions

As you will be bound by the account terms and your information is held in accordance with our privacy policy, you should read, print and save the below documents for your records. If you have any queries relating to them please contact us for further information.

Please also read the following:


^ Tax-free means UK Income Tax and Capital Gains Tax is not deducted from the interest you earn. This depends on your individual circumstances, and may change in future.

* Gross interest is the rate of interest before income tax is deducted at the rate set by law.

† AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest were paid once each year on the whole balance, including previous interest payments.