Online Limited Access

Our Online Limited Access Account may be right for you if you are comfortable using a computer and want to save regularly but like the reassurance of knowing you can access your money up to 3 times a year.
  Interest rate Balance Gross* p.a. AER†
Variable £1 - £1,000,000 1.05% 1.05%
  • Open online
  • Save from £1 to £1,000,000
  • Interest is calculated on your daily balance and paid annually into your account
  • Transfer money to your linked account whenever you need it
  • Three withdrawals permitted per calendar year 
  • Closure permitted but counts as a withdrawal
  • This account cannot be held in joint names
Summary box
  Summary Box
Account Name Online Limited Access
What is the interest rate? 1.05% Gross* p.a. / AER† (Variable)

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 based on a £1,000 deposit? £1,010.50 (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 in your name with a UK bank or building society to be able to manage payments in and out of your account.
  • Open and manage your account online only.
  • Minimum balance is £1, maximum balance is £1,000,000. 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.
Can I withdraw money? Yes, you can make three withdrawals per calendar year, subject to the minimum balance.

Closure is permitted and will count as 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 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 17/09/2020.

Before you apply below, please read the Online Limited Access 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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