NHS Thank You Saver

Our NHS Thank You Saver regular savings account has been designed to acknowledge the crucial role played by NHS workers and to thank them for their ongoing support within our communities.

  Net y fl. Balans Gross* each year AER†
Variable £1 - £20,000 2.00% 2.00%
  • Open in branch or at an agency.
  • You must be employed directly by the NHS to open this account.
  • Pay in up to £250 per month, in one or more payments
  • You don't have to pay money in every month
  • Once you have saved £20,000 you can't put any more money in
  • Interest is calculated on the money in the account each day and paid each year on 1 January
  • You can take money out three times every calendar year
  • You can close the account, but closure counts as a withdrawal
  • We can stop accepting applications at any time.  This account is only available to NHS employees.
Summary Box
  Blwch Crynodeb
What is the interest rate? 2.00% Gross* each year/AER† (Variable)

(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 1st January every year.
Can Principality change the interest rate?
  • Yes, variable interest rates can go up or down.
  • If you have £100 or more in the account, we will give notice of any reduction in interest rates at least 14 days before the change takes effect.
  • 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 based on a £3,000 deposit? £3,032.50
This is based on paying in £250 a month for 12 months, making the first payment on the date the account was opened, no money being taken out of the account and no change to the interest rate.
How do I open and manage my account?
  • You must be 16 or over, a UK resident and employed directly by the National Health Service (NHS) (see your NHS Thank You Saver account terms).
  • You’ll need proof of your address and identity. You’ll also need to show your NHS staff ID card or your NHS payslip.
  • You can only open one of the current issue number of NHS Thank You Saver in your name.
  • This can be a joint account, but the first named account holder must be employed directly by the NHS.
  • You can open the account in branch or at an agency.
  • You must keep at least £1 (the minimum balance) in the account.
  • The most you can pay in each month is £250, in one or more payments.
  • You don’t have to make payments into the account every month.
  • If the account reaches £20,000, you cannot pay any more money in.
  • If we do not receive the first payment within five business days of the account opening, we will close it.
  • You can manage the account in branch, at an agency, by post or by using the online service, Your Account, at principality.co.uk.
Can I withdraw money?
  • Yes, you can make three 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.
  • If the total amount of interest earned is more than the tax-free Personal Savings Allowance, tax may have to be paid directly to HM Revenue & Customs (HMRC). For more information, visit gov.uk and search for Personal Savings Allowance.
  • 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 01/08/2022.
Calculate your savings

Savings calculator




  1. The results displayed were dependent on the information you provided and are for illustrative purposes only and are by no means an indication of being suitable for your individual circumstances.
  2. The calculations assume interest is paid gross* of income tax on the entire balance on an annual basis
  3. It has been assumed that no withdrawals or additional deposits would be made from the account during the saving duration, and that the interest rate also remains the same during this time (note that interest rates on variable rate savings account are subject to change, and when fixed rate deals end, there is no guarantee that the same rate will be available in the future). 

Putting money into your savings account Once you've opened your savings account, for most accounts you should pay money in within 5 business days. Click here for information on how you can do that.

  • 6ed cymdeithas adeiladu fwyaf y DU
  • Cymdeithas adeiladu gydfuddiannol, sy’n eiddo i’n 500,000 o aelodau ac yn cael ei rhedeg er eu lles
  • Dros 160 mlynedd o brofiad
  • Gofalu am werth dros £10 biliwn o asedau ein cwsmeriaid
  • Gall Aelodau fynd at dudalen Gwobrau Aelodau sy’n cynnwys cystadlaethau, gostyngiadau a mwy.

We are covered by the FSCS

Find out more about what it means for you.

Before you apply, please read the NHS Thank You Saver Account 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.

Cynnyrch a welwyd eisoes

NHS Thank You Saver