Principality Bonus 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.

  Interest rate Balance Gross* each year AER†
  • 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

Please read the summary box below 

  Summary Box
Account Name Principality Bonus Saver
What is the interest rate?
Gross* p.a/AER†
Interest rate without bonus
0.40%
Interest rate with bonus
0.80%

You will earn the interest rate with bonus for the first 12 months, after which the interest rate will revert to the rate without bonus. Interest is calculated on your daily balance and paid annually on 1st 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 conditions 74-80 of our Savings Terms and Conditions.
What would the estimated balance be after 12 months and 24 months, based on a £1,000 deposit? £1,008 after 12 months (interest rate includes bonus)
£1,012.03 after 24 months (only interest rate without bonus paid for months 13 to 24)
(Based on the assumption that no further deposits or withdrawals are made during the 12 and 24 month periods and the rate doesn’t change).
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. You need to keep the minimum balance in your account for it to remain open.
  • 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.
  • The bonus will be paid for the first 12 months you hold the account. We will contact you before your unconditional bonus period comes to an end to remind you of this.
Can I withdraw money? Yes, you do not have to give notice to close your account or make a withdrawal.
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 25/08/2020.

Before you apply below, please read the Principality Bonus 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.

Please Note: If you are an existing eSaver, Web Saver or Online Saver customer and want to open a Principality Bonus Saver 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


  • 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
  • Members can access a Member Rewards page featuring competitions, discounts and more.

We are covered by the FSCS

Find out more about what it means for you.