We are updating our Savings Terms and Conditions

Effective from 1st July 2020, we are making the following updates: 

• Clause 1 - we are updating how long you have to fund your new account 
• Clause 44 - we are updating our cheque withdrawal process 
• Account Special Term 1 – we are clarifying the criteria for who can open accounts
• Signatory Term 13 - we are updating the deceased signatory process on signatory accounts

Click here to view the new terms and conditions

Fixed Term Savings and Bonds

Fixed term savings and bonds tie up your money for a set period of time while earning competitive interest rates. Principality provides you with a choice of fixed term Bonds with interest rates that are calculated daily. Interest can be paid annually or monthly into a bank account of your choice. We have a range of Fixed Term Bonds that are easy to open and manage.

  Gross* p.a. AER† Includes bonus Minimum to open Withdrawal notice  
1 Year Regular Saver Bond Issue 22 1.50% 1.50% No £20 Not permitted More details
2 Year Fixed Rate Bond Issue 345 0.85% 0.85% No £500 Not permitted More details

^ 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.

  • 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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