Cymraeg

Maturity Limited Access 

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.

  Interest Rate Balance Gross* p.a. AER†
Variable Annual £500 - £2,000,000 0.45% 0.45%
  • 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
  • One withdrawal permitted per calendar year
  • Closure permitted but counts as a withdrawal
  • This product can be withdrawn from sale at any time without notice.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 Limited Access Issue 2
What is the interest rate?
AER†
Gross* p.a.
Annual interest
0.45%
0.45%

Interest is calculated on your daily balance and paid annually on 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 conditions 74-80 of our Savings Terms and Conditions.
What would the estimated balance be after 12 months based on a £1,000 deposit? £1,004.50 (based on the assumption that you chose to have interest paid annually and added to your account and that no further deposits or withdrawals are made during the 12 months)
How do I open and manage my account?
  • This product is only available to customers with a maturing Principality fixed term account. You must be a UK resident for tax purposes to open and operate this 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. The minimum balance must be maintained to operate the account.
  • You can continue to make deposits into your account provided you do not exceed the maximum balance of £2,000,000.
  • Manage your account 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  • This product can be withdrawn from sale at any time without notice.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?
  • Yes, you can make one withdrawal per calendar year, subject to maintaining the minimum balance
  • Closure is permitted but counts 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 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 11/05/20.

Before you apply below, please read the Maturity Limited Access Issue 2 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.

We recommend that you print and keep a copy of these terms and conditions for your records.

Please also read the following:

Help & guidance

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

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^ 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.

Why Principality?

  • 6th largest UK building society
  • A mutual building society, owned by and run for the benefit of our 500,000 members
  • Over 150 years experience
  • Taking care of over £11 billion of our customers' assets

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