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Regular savings

Homebuyers Bonus

Our homebuyers savings account offers a bonus on your savings when you subsequently are approved for a mortgage with us.

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Download an application form

To be able to download an application form you must first read the documentation below. Only when you have read the information and fully understand how the account works should you click to download the application form. For sole applications please complete only Account Holder 1 sections

Download an application form

Print, complete and post your application form to:

Penrith Building Society, 7 King Street, Penrith, Cumbria, CA11 7AR

Before posting you should remember to include:

  • Proof of your identity
  • A cheque for your opening deposit from your personal bank account

If you have any questions about opening an account with us please email enquiries@penrithbs.co.uk or call us on 01768 863675.

Download Application

Homebuyers Bonus

3.55%

Gross rate / 3.55% AER 

Rate Type

Variable

Looking to build up a deposit for your first home or moving house. We can help you on your way!

X

Download an application form

To be able to download an application form you must first read the documentation below. Only when you have read the information and fully understand how the account works should you click to download the application form. For sole applications please complete only Account Holder 1 sections

Download an application form

Print, complete and post your application form to:

Penrith Building Society, 7 King Street, Penrith, Cumbria, CA11 7AR

Before posting you should remember to include:

  • Proof of your identity
  • A cheque for your opening deposit from your personal bank account

If you have any questions about opening an account with us please email enquiries@penrithbs.co.uk or call us on 01768 863675.

Download Application
Contact Us
Find out more

 

What is the interest rate? The interest rate is 3.55%
+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 £1,035.50.

Based on the rate of interest, if you deposited £1,000.00 in this account and closed this after 12 months, assuming the bonus conditions are met the balance would be £1,045.86 including the eligible bonus.

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 over 16 and can be opened in branch or by post, application packs can be downloaded from our website Savings – Penrith Building Society
  • 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
  • This account is limited to one account per individual (joint accounts are not permitted)
  • This account is not available to re-mortgage customers

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.
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 withdrawal requests by post, please enclose your passbook with any requests.
Additional Information 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 requestsBonus PaymentAfter saving for a minimum of 6 months we may make a bonus payment of 1% of your final savings balance on the day your account is closed, the maximum bonus payment is £200. To qualify for the bonus payment, you must make a mortgage application to us which is approved.If your mortgage application is accepted, you may be entitled to free “Application and Product Fees. This applies to direct applications only. If for any reason you are unable to complete the purchase of your property, fees may be payable on any further application.To take a mortgage with us you will need to meet our lending criteria, we carry out credit checks and may request references to check your financial circumstances.

+ 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

        • 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
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Your eligible deposits held by a UK establishment of Penrith Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit protection scheme. Any deposits you hold above the limit are unlikely to be covered.

Further information is available here »»
(PDF Version)

Or visit www.fscs.org.uk.

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