Web Saver

Our Web Saver may be right for you if you want to manage your account online, save when it suits you, and like the comfort of knowing you can take money out whenever you need to.

0.25% Gross* each year/AER† (Variable) Apply online

	Interest rate	Balance	Gross* each year	AER†
	Variable	£1 - £250,000	0.25%	0.25%

Open online
Pay in from £1 to £250,000
Interest is paid each year on 1 January
Take money out whenever you need to
You can close this account at any time
We can stop accepting applications at any time.

Summary box
Calculate your savings
Help & guidance

Summary box

Please read the summary box below

	Summary Box
What is the interest rate?	0.25% Gross* each year/AER† (Variable) (See the meanings of ‘Gross’ and ‘AER’ below this summary box.) 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 £1,000 deposit?	£1,002.50 This is based on no further money being put in or taken out of the account and no change to the interest rate.
How do I open and manage my account?	You must be aged 16 or over. You must be a UK resident for tax purposes to open and operate this account. You need to have a current account with another UK bank or building society. Open your account online only. Minimum balance is £1, maximum balance is £250,000. The minimum balance must be maintained to operate the account. Manage your account online only. You have 5 business days from the account opening date in which to make your initial deposit. If you have not made your initial deposit in this time, your account will be closed.
Can I withdraw money?	Yes, you can make a withdrawal or close the account at any time.
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 www.gov.uk and search Personal Savings Allowance. The interest rates quoted above were correct on 01/06/2021.

Calculate your savings

Savings calculator

Initial deposit (£)

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Amount must be less than 250000

Monthly amount (£)

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Amount must be less than 250000

Saving duration

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Saving duration

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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.
The calculations assume interest is paid gross* of income tax on the entire balance on an annual basis
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).

Help & guidance

Guides Read more for top tips on saving and answers to your savings and ISA questions.

Before you apply, please read the Web Saver Issue 7 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:

* 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.

Please Note: If you are an existing eSaver, Web Saver or Online Saver customer and want to open a Web Saver Issue 7 account and transfer your existing balance to it, then please send us a secure message via Your Account using the 'New message' option to send a ‘Savings general enquiry’ message and we will transfer your existing balance without the need to open a new account

Please click to confirm that: You have read and agree to, our 'Savings Terms and Conditions', 'Web Saver Issue 7 Account Terms', 'Basic information about the protection of your eligible deposits', our Privacy Policy and the 'Electronic Verification Guide'. You consent to us processing your personal data in order to operate your account. This consent will also allow us to process your personal data in connection with any savings account to which you transfer your funds internally. You can contact us to withdraw that consent at any time but that could result in the closure of your account.

Apply now

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.

Why Principality?

6th largest UK building society
A mutual building society, owned by and run for the benefit of our 500,000 members
Over 160 years experience
Taking care of over £10 billion of our customers' assets
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