First Home Steps Online
A regular saver account for First Time Buyers, if you are looking to start saving to buy your first home, our First Home Steps Online may be right for you.
- Save from £1 to £25,000, maximum deposit of £1,500 per calendar month
- Interest is calculated on your daily balance and paid annually
- Three withdrawals permitted per calendar year
- This account can only be opened by First Time Buyers
|First Home Steps Online (Annual - Tier 1)||£1 - £2,500||0.80%||0.80% (variable)|
|First Home Steps Online (Annual - Tier 2)||£2,501 - £7,500||1.00%||1.00% (variable)|
|First Home Steps Online (Annual - Tier 3)||£7,501 - £25,000||1.50%||1.50% (variable)|
Please read the summary box below
- Summary Box
- Help & Guidance
|Account name||First Home Steps Online|
|What is the interest rate?||
Gross* p.a./ AER† (Variable)
£1 - £2,500
£2,501 - £7,500
£7,501 - £25,000
Interest is calculated on your daily balance and paid annually on 1st January every year. For balances eligible for the higher rates of interest, the higher rate will apply to the total balance when that day’s interest is accrued.
|Can Principality change the interest rate?||
|What would the estimated balance be after 12 months based on a £4,850 or £18,000 deposit?||Based on the assumption that no withdrawals are made and the rate does not change:
£4,877.93 (based on an initial deposit of £1,000 made at account opening, followed by 11 monthly deposits of £350 made on the same day each calendar month).
£18,137.23 (based on 12 monthly deposits of £1,500, the first being made at account opening and the remaining 11 on the same day each calendar month).
|How do I open and manage my account?||
|Can I withdraw money?||
Before you apply, please read the First Home Steps Online Account Terms & Conditions
- Savings Terms and Conditions
- First Home Steps Online Account Terms and Product Summary Information
Please also read the following:
- Basic information about the protection of your eligible deposits
- Electronic Verification Guide
- Tariff of Charges
- Your Information
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