| What is the interest rate? |
The interest rate is 2.50%
+Gross Rate% / ^AER% |
| Interest is variable, calculated daily and added to your account balance annually on 31st December. |
| Can Penrith Building Society change the interest rate? |
Yes – the rate of interest paid on your account is variable and may be changed by us. Where we do so, we will give you reasonable notice in advance of the change.
For further details refer to our Terms & Conditions for Savings Accounts. |
| What would the estimated balance be after 12 months based on a £1,000 deposit? |
Based on the rate of interest, if you deposited £1,000 in this account, after 12 months the balance would be £1,025.00.
This figure is provided for illustration purposes only. It is based on no transactions or changes to interest rates after the initial deposit. |
| How do I open and manage my account? |
Opening your account
- This account is available to UK residents and can be opened in branch or by post, application packs can be downloaded from our website Savings – Penrith Building Society
- This account is limited to one account held individually or jointly per affinity partner
- You will need to provide identification and national insurance number when you open your account, details can be found on our website ID-REQUIREMENTS-V1.30.pdf
Savings limits & additional deposits
- Minimum investment £1
- Maximum Investment £20,000
- The total limit on your combined savings with us should not exceed £250,000
- You will receive a passbook to help keep track of your savings
- Payments into the account can be made by faster payment, standing order, or by cash or cheque in branch. You may also send a cheque through the post. Please ensure that cheques are made payable to yourself and quote the account number on the payee line
- Payment of the funds into your account can only be made in £ sterling.
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| Can I withdraw money? |
You can withdraw from your account at any time without notice or penalty by visiting branch with your passbook. Please note that branch limits apply to cash withdrawals.
Alternatively you can make withdrawals by post, please enclose your passbook with any requests.Alternatively you can make withdrawal requests by post, please enclose your passbook with any requests. |
| Additional Information |
Tax treatment depends on individual circumstances and may be subject to change in the future.
By opening an Affinity Account you can help your chosen cause without it costing you a penny. Please see below for information on our current affinity partners.
We will make an annual donation to your chosen affinity partner equivalent to 0.50% gross of the average total balances held in all accounts where the specific partner is chosen. |
+ Gross Rate is the rate of interest payable (without deduction of tax) and you will be responsible for paying tax you owe on interest as per your individual circumstances.
^ AER stands for annual equivalent rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
We always try to provide a first-class service. Occasionally however things can go wrong. If they do we will try to put them right. If you wish to make a complaint, our complaints procedures are detailed in the Terms & Conditions for Savings Accounts.
If you would like to talk to us about your account you can
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- speak to a member of staff at our branch office at 7 King Street, Penrith, Cumbria. CA11 7AR
- Call one of our team on 01768 863675
- Email our savings team at savings@penrithbs.co.uk
- Visit our website www.penrithbs.co.uk
DOWNLOAD SUMMARY BOX AS A PDF
DOWNLOAD THE TERMS AND CONDITIONS FOR SAVINGS ACCOUNTS