Cymraeg

Maturity 2 Year Fixed Rate Bond

This is a maturity product, it’s designed to reward you as one of our loyal savings Members, you will benefit from higher rates than the products on sale to new customers. Our Maturity 2 Year Fixed Rate Bond may be right for you if you have a lump sum to invest and can leave your investment untouched for 2 years.

  Interest Rate Balance Gross* p.a. AER†
Annual Interest £500 - £2,000,000 0.90% 0.90%
Monthly Interest £500 - £2,000,000 0.89% 0.90%
  • This product is only available to customers with a maturing Principality account
  • Apply in branch, agency or by post
  • Save from £500 to £2 million
  • Interest is calculated on your daily balance and paid annually or monthly
  • Additional deposits permitted up to 5 business days after the opening of the account
  • No withdrawals allowed before the end of the 2 year term
  • No closure permitted prior to maturity
  • This product can be withdrawn from sale at any time without notice. While the product remains on sale it is only available to you for 14 days after the date on which your existing Principality account matures
Summary Box
  Summary Box
Account Name Maturity 2 Year Fixed Rate Bond (FRB52)
What is the interest rate?
AER†
Gross* p.a.
Fixed annual interest
0.90%
0.90%
Fixed monthly interest
0.90%
0.89%

Interest is calculated on your daily balance and paid annually on the anniversary of your bond opening or monthly, paid one month after the date on which your bond is opened, and then monthly after that, depending on what you choose.
Can Principality change the interest rate? No, the rate on this bond is fixed for 2 years until maturity.
What would the estimated balance be after 24 months based on a £1,000 deposit? £1,018.08 (based on the assumption that you chose to have interest paid annually and added to your bond and that no further deposits were made).
How do I open and manage my account?
  • This product is only available to customers with a maturing Principality fixed term account.
  • You can transfer funds from your maturing Principality account in branch, agency or by post.
  • Minimum balance is £500, maximum balance is £2,000,000
  • You can keep making deposits for up to 5 Business Days after opening the account.
  • There is no minimum age to open this account. You must be a UK resident for tax purposes to open and operate this account.
  • The bond will mature after two years on the anniversary of opening.
  • Manage your bond in branch, agency, online or by post.
  • This product can be withdrawn from sale at any time without notice. While the product remains on sale it is only available to you for 14 days after the date on which your existing Principality account matures.
Can I withdraw money?
  • No, closure or withdrawals are not permitted prior to maturity.
  • We may allow you to close your bond during the fixed term at our absolute discretion in exceptional circumstances.
  • We will write to you before your bond matures to let you know what you can do with your balance.
  • If we don’t receive any instructions from you before your bond matures, your balance will be transferred to our Instant Access Account or its nearest equivalent.
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 23/07/20.
Help & guidance

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

Contact us If you would like to speak someone for help give us a quick call. 

FAQs

Before you apply below, please read the Maturity 2 Year Fixed Rate Bond (FRB52) 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.


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  • Over 150 years experience
  • Taking care of over £8 billion of our customers' assets

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