| What is the interest rate? |
Total Balance
Up to £999.99
£1,000 to £20,000
Over £20,000 |
+Gross Rate%
1.30
1.35
1.75 |
^AER%
1.30
1.35
1.75 |
| Interest is paid annually on 31st December and can be added to the account balance or paid to another bank or building society account by BACS transfer |
| 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 Savings Accounts Terms & Conditions |
| What would the estimated balance be after 12 months based on a £100 deposit? |
Based on the rate of interest, if you deposited £100 in this account, after 12 months the balance would be £101.30.
This figure is provided for illustration purposes only. It is based on no transactions or changes to interest rates after the initial deposit. |
| 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 £1013.50.
This figure is provided for illustration purposes only. It is based on no transactions or changes to interest rates after the initial deposit. |
| What would the estimated balance be after 12 months based on a £20,000 deposit? |
Based on the rate of interest, if you deposited £20,000 in this account, after 12 months the balance would be £20,350.
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 Corporate Bodies, Solicitors Clients Accounts, and Trust and Trustee Accounts (with the exception of Discretionary Trusts) based in Cumbria. To open an account simply contact our branch team who will make an appointment for you. An application form is available on our website, this can be completed before your appointment Online Savings – Penrith Building Society
- This account can be opened in Branch or by post
- As part of our account opening process we will need:
- Identification and national insurance number when you open your account, details can be found on our website ID-REQUIREMENTS-V1.30.pdf
- Information about your company or trust, please see additional information section below
Savings limits & additional deposits
- Minimum investment £1,00
- Maximum Investment £150,000
- The total limit on your combined savings with us should not exceed £350,000
- 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 the account holder and quote the account number on the payee line
- Payment of funds into your account can only be made in £ sterling by bank transfer
|
| 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.
The minimum balance of £100 must remain in the account.
Alternatively you can make withdrawals by post, please enclose your passbook with any requests. |
| Additional Information |
Additional Account Opening Requirements
If none of your chosen authorised signatories are directors, we will require at least one of the company directors to provide ID documentation to us, details can be found on our website ID-REQUIREMENTS-V1.30.pdf
In addition to your personal identification we will need to see confirmation of any underlying beneficial owners of the company, this includes those having ownership of control of over 25% of its shares or voting rights AND those with principal control over the company’s assets e.g. Principle or Shadow Directors ( this information can usually be found in your company Accounts).
We will need to see original documents, if this is not possible we are able to accept certified copies. Certification must be carried out by an employee of an FCA registered organisation (your bank , building society or financial advisor) or a registered solicitor. This person must supply their name, address and telephone number in the event we needed to contact them.
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). Businesses are responsible for declaring interest accrued on savings as part of their annual self assessment tax return.
^ 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