Maturity 1 Year Fixed Rate Bond
FRB171
Account overview
4.20%
Gross* / AER† (Fixed)
£500
Min. opening deposit
- Manage account
- Online, branch or post
- Withdrawals
- Not allowed
- Pay in
- Within 5 business days of opening
- Interest paid
- Yearly or monthly
- Min & max balance
- £500 - £2,000,000
Is this account right for me?
This product is available to Principality members with a maturing savings account. We offer higher interest rates on maturity products compared to similar products for new customers. You can apply for a maturity account within 14 days of your maturity date.
For the ones who
- Have a maturing Principality account
- Want to reinvest at least £500
- Don’t need to withdraw money for one year
- Don’t need to close the account for one year
- Want the certainty of a fixed rate
Not for the ones who
- Don’t want to reinvest at least £500
- Want to make withdrawals
- Want to save regularly
- Don't have a maturing Principality account
- Want a variable interest rate
Summary box
This summary contains key information about our Maturity 1 Year Fixed Rate Bond. You should read it carefully before applying.
Interest is calculated each day on the money in the account. You can choose whether interest is paid:
- Annually, on the anniversary of your account opening.
- Monthly, starting one month after the date the account opened, and then each month after that.
Gross* each year | AER† | |
Fixed annual interest | 4.20% | 4.20% |
Fixed monthly interest | 4.12% | 4.20% |
No, the rate is fixed for one year until the bond matures (when the account comes to an end).
£1,042.00
This is based on:
- You choosing to have interest paid annually and added to your bond.
- You not making any further payments into the account.
This calculation is for guidance only, to show you what a future balance could look like. It does not consider your individual circumstances.
- You must be a Principality customer with a fixed term savings account coming to the end of its fixed term (maturing).
- You must be a UK resident (see your Maturity 1 Year Fixed Rate Bond account terms).
- There is no minimum age to open this account. If you are under 14, it must be opened as a trust account.
- You can move money from your maturing Principality account in branch, at an agency, by post or online.
- You can open the account up to 14 days after the date your existing Principality account matures unless we remove it from sale. We can stop accepting new applications for this account at any time.
- You must keep at least £500 (the minimum balance) in the account.
- If your bond reaches £2,000,000 (the maximum balance) you cannot pay any more money in.
- You can keep making payments into your bond for up to 5 business days after opening the account.
- Your bond will mature after one year, on the anniversary of the account opening.
- You can manage the account in branch, at an agency, by post, or by using a secure online profile with Principality.
No, you cannot make withdrawals or close your bond before it matures.
We will write to you before your bond matures to find out what you want to do with your money.
If we don’t receive any instructions from you before your bond matures, we will move your money to our Instant Access Account or the nearest equivalent we offer at the time.
Service charges and costs may apply to your bond. These are set out in our Tariff of Charges.
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 and Customs (HMRC). For more information, visit gov.uk.
Children are not exempt from paying tax. If the total amount of interest earned by a child is more than their tax-free Personal Savings Allowance, they may have to pay tax directly to HM Revenue and Customs (HMRC). If a child earns more than £100 in interest during the tax year from money given by a parent, the parent may also have to pay tax. For more information visit gov.uk.
In certain circumstances we may refuse an instruction for using an account. These circumstances are set out in our Savings Terms and Conditions.
The interest rates quoted above were correct on 12/12/2024.
Downloadable documents
Please take some time to review this important information. We recommend you download these and keep copies somewhere safe; you may choose to print them.
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Maturity 1 Year Fixed Rate Bond
PDF - 1.46 MB (Opens in the same tab)
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Savings Terms and Conditions
PDF - 4.7 MB (Opens in the same tab)
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FSCS Information Sheet and Exclusion List
PDF - 92KB (Opens in the same tab)
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Tariff of Charges
PDF - 50 KB (Opens in the same tab)
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Your Information
PDF - 216KB (Opens in the same tab)
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Privacy Policy
PDF - 209KB (Opens in the same tab)
Mature your savings account
Maturity accounts are available to Principality Members with a maturing savings account. Your maturity options will show on your profile 14 days before the maturity date.
If you're ready to choose an account to mature into, you can:
Log into your secure online profile (if you have one)
Call us or visit a branch
Additional information
*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 was paid and compounded once each year.
^Tax-free means the interest you earn isn't subject to UK Income Tax and Capital Gains Tax. Tax treatment depends on your individual circumstances and could change in future.