Web Saver

If convenience and flexibility are important to you, and you are comfortable using a computer, our Web Saver may be right for you. 

  Interest rate Balance Gross* p.a. AER†
Variable £1 - £250,000 0.25% 0.25%
  • Open online
  • Save from £1 to £250,000
  • Interest is calculated on your daily balance and paid annually into your account
  • Transfer money to your linked account whenever you need it
  • Unlimited withdrawals and closure permitted
  • This account cannot be held in joint names



Summary box

Please read the summary box below 

  Summary Box
Account name Web Saver Issue 7
What is the interest rate? 0.25% Gross* p.a. / AER† (Variable)

Interest is calculated on the daily balance and paid annually on the 1 January every year.
Can Principality change the interest rate? Yes, variable account rates could increase or decrease.

Customers will be given personal notification of any material reduction in interest rates a minimum of 14 days before the change takes effect.

To understand why rates may be reduced please refer to condition 74-80 of our Savings Terms and Conditions.
What would the estimated balance be after 12 months based on a £1,000 deposit? £1,002.50 (based on the assumption that no further deposits or withdrawals are made during the 12 months).
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 do not have to give notice to make a withdrawal or close your account.
Additional information
  • Service charges and costs may apply to your account. These are outlined in our Tariff of Charges.
  • If the total amount of interest you earn exceeds your Personal Savings Allowance then you may have to pay tax directly to HMRC. For more information visit www.gov.uk and search ‘Personal Savings Allowance’.
  • In certain circumstances we may refuse an instruction to operate an account. These circumstances are outlined in the Savings Terms and Conditions.
  • Rates correct as at 27/11/2020.
Calculate your savings

Savings calculator

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  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). 

Before you apply below, 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:

^ Tax-free means the interest you earn is exempt from UK Income Tax and Capital Gains Tax. Tax treatment depends on your individual circumstances and may not be maintained in future.

* Gross is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.

† AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest were paid and compounded once each year.

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

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.

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