Our new Tracker Saver offers a variable rate of interest that tracks the Bank of England Bank Rate (Base Rate) currently 0.75%, plus 0.15% for three years. You can also make two withdrawals per calendar year.
|Interest Rate||Balance||Gross* p.a.||AER†|
|Annual interest||£500 - £2,000,000||0.90%||0.90%|
- Open in branch, agency, or by post
- Save from £500 to £2 million
- Interest is calculated on your daily balance and paid annually
- Two withdrawals permitted per calendar year
- No notice required
- Summary Box
- Calculate your savings
- Help & Guidance
|Account name||Tracker Saver|
|What is the interest rate?||0.90% Gross* p.a. / AER† (Variable)
The interest rate tracks the Bank of England Bank Rate (Base Rate) currently 0.75%, plus 0.15%, for three years after opening. To find out the current Base Rate, visit bankofengland.co.uk.
There is no maximum interest rate for this account, and the rate will never fall below 0.15%.
After three years the account will no longer track the Base Rate and your balance will be transferred to our Easy Saver Account or its nearest equivalent. We'll write to you to remind you before this happens.
Interest is calculated on your daily balance and paid annually on the anniversary of account opening.
|Can Principality change the interest rate?||Yes, this is a variable rate account that tracks the Bank of England Base Rate and will move up or down in accordance with this, if it changes, until the third anniversary of the account opening.
Any rate change will be applied to the account at the start of the next calendar month following a Base Rate change.
Customers will be given personal notification if the interest rate decreases as a result of a change in Base Rate as soon as possible after the change. If the Base Rate increases we will give general notice within three business days of the change in our branches and on our website.
|What would the estimated balance be after 36 months based on a £1,000 deposit?||£1,027.24 (based on the assumption that no further deposits or withdrawals are made during the 36 months). This estimate is calculated on the current Base Rate of 0.75% it does not take into account any fluctuations that may take place during the three year term.|
|How do I open and manage my account?||
|Can I withdraw money?||Yes, you can make two withdrawals per calendar year, subject to the minimum balance. Closure is permitted and will count as a withdrawal so if you have already made two withdrawals in the current calendar year you will not be able to close the account until either the next calendar year begins or the account matures on the third anniversary|
- The results displayed were dependent on the information you provided and are for illustrative purposes only and are by no means an indication of being suitable for your individual circumstances.
- The calculations assume interest is paid gross* of income tax on the entire balance on an annual basis
- It has been assumed that no withdrawals or additional deposits would be made from the account during the saving duration, and that the interest rate also remains the same during this time (note that interest rates on variable rate savings account are subject to change, and when fixed rate deals end, there is no guarantee that the same rate will be available in the future).
Before you apply below, please read the Tracker Saver Terms & Conditions
- Tracker Saver Account terms and Product Summary Information
- Savings Terms & Conditions
We recommend that you print and keep a copy of these terms and conditions for your records.
Please also read the following:
- Basic information about the protection of your eligible deposits
- Electronic Verification Guide
- Tariff of Charges
- Your Information
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