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Grow your savings with a fixed rate of 4.35%

Saving should feel rewarding, but often it doesn’t. Everyday costs keep rising, and it can be hard to know where to put your money. You don’t want stress or uncertainty. What you need is something steady, safe and straightforward – a way to grow your savings with peace of mind.

Know exactly what your money is doing for the next year.

That’s exactly what our 1 Year Fixed Rate E-Bond gives you. Put your money aside for 12 months, and you’ll earn a guaranteed 4.35% return. No ups and downs, no guesswork – just a clear plan that lets your money grow safely.

Here’s how it works: you save your money with us, we fix your interest at 4.35% for one year, and at the end of the term you get back your savings plus your guaranteed return. There are no hidden fees and nothing complicated to figure out. Just simple, reliable growth.

Grasmere Bond

4.50%

Gross rate / 4.50% AER

Rate Type

Fixed
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@uat.penrithbs.co.uk or call us on 01768 863675.

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What is the interest rate? +Gross Rate%

4.50

 ^AER%

4.50
• Interest is paid annually on 31st December and on maturity and will be added to the account balance.

•Interest rates on this account are fixed for the two-year term of the account.
Can Penrith Building Society change the interest rate? The interest rate on this account is fixed for two years from the date of opening and is guaranteed for the term of the investment. This means we cannot change the rate until after the fixed rate period.
What would the estimated balance be after 12 months based on a £5,000 deposit £5,225.00

This projection is provided for illustrative purposes only. It is based on no further deposits or withdrawals being made and interest being added to the account. The projected balance is based on the fixed interest rate.
What would the estimated balance be on maturity based on a £5,000 deposit? £5,460.13

This projection is provided for illustrative purposes only. It is based on no further deposits or withdrawals being made and interest being added to the account. The projected balance is based on the fixed interest rate.
What would the estimated balance be one year after maturity based on a £5,000 deposit? £5,626.66

This projection is provided for illustrative purposes only. It is based on no further deposits or withdrawals being made and interest being added to the account. The projected balance is based on the fixed interest rate.
How do I open and manage my account?
    • This account is available to UK residents over 16 and can be opened in Branch or by post. To open an account simply call into Penrith Building Society with identification and complete the relevant application form. Alternatively, an application pack can be downloaded from our website or posted to you. Details of identification requirements can be obtained from our branch or on our website
    • Minimum investment £5,000
  • Maximum Investment £50,000
  • One account per customer held individually (joint accounts are not permitted)
  • The Society’s total limit on combined savings should not exceed £250,000
  • No further credits are permitted after the initial deposit
  • Payments into your account can only be made in £ sterling
  • 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
  • Visit our website www.penrithbs.co.uk
Can I withdraw money? Withdrawals are not permitted prior to maturity except on death of the investor

  • This account will mature 2 years from inception. After the fixed rate period your account will become a variable rate Instant Access Shares account. We will write to you before the end of the fixed rate period to let you know the options available to you as well as advising you of the interest rate currently payable on the Instant Access Shares Account.
Additional Information Tax treatment depends on individual circumstances and may be subject to change in the future.

+ 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.

DOWNLOAD KEY PRODUCT INFORMATION AS A PDF

DOWNLOAD THE TERMS AND CONDITIONS FOR SAVINGS ACCOUNTS

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Any questions About this product, feel free to fill in the form below and one of our team will come back to you within 2 business days.








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    Our top frequently asked question

    Apply Online
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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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