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Closed Accounts
If for any reason you wish to close your account we will help find the best process. Please remember, accounts cannot be closed over the phone or by email.
| Name | Features |
|---|---|
| Ullswater Bond | Fixed Rate of 1.60% & Fixed Term of two years
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| Eden Share | 90 day notice account (immediate withdrawals can be made subject to a 90 day penalty).
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| Regular Saver 300 Account |
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| Beacon Share | 90 day notice account for balances below £10,000 and instant access to any balance over £10,000, immediate withdrawals on balances below £10,000 subject to a loss of 90 days interest.
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| Monthly Income Shares | One calendar month notice for any withdrawals
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| ISA – Issue 1 | Minimum balance £100. Annual subscription subject to HMRC limits.
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| Penrith Capital Bond Retention Issue 1 | 2 year fixed rate fixed term bond
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| Penrith Capital Bond Retention Issue 3 | 2 year fixed rate fixed term bond
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| Penrith Capital Bond Retention Issue 4 | 2 year fixed rate fixed term bond
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| Penrith Capital Bond Retention Issue 5 | 2 year fixed rate fixed term bond
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| Penrith Capital Bond Issue 5 | 2 year fixed rate fixed term bond
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| 140th Anniversary Bond | 2 year fixed rate fixed term bond
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| Gross Account Non-Residents |
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Our Current Savings Accounts at a Glance
| Name | Type | Interest Rate | Features | savings-category_hfilter | |
|---|---|---|---|---|---|
| Coniston Bond | Longer Term & Fixed Rate | 1.40% | The Coniston Bond is a two year fixed term, fixed rate account for those who wish to guarantee the interest rate for the term of their investment. This product has strictly limited availability and could be withdrawn at any time. The minimum investment is £5,000 and the maximum is £50,000. No further receipts are permitted after the initial deposit. Accounts can be held in single names only and are limited to one per customer who are resident in the UK and over the age of 16. The Coniston Bond will mature 2 years from inception. On maturity the rate will reduce to that of the Instant Access Account and the Terms & Conditions of the Instant Access Account will apply. Please note the Society’s total limit on combined savings should not exceed £150,000. | More details | longer-term-fixed-rate |
| Regular Saver 200 | Regular | 1.75% | The Regular Saver 200 is a two year fixed term, monthly subscription account for individuals who wish to establish a regular savings habit and are looking for a good rate of return on their investment. One Regular Saver 200 account is allowed per individual and you must be over the age of 16 and resident in the UK. This account is only available to open in person in branch. The monthly subscription can be any amount up to the maximum of £200, if however a monthly subscription is missed this cannot be caught up in subsequent months. On maturity, if your Regular Saver 200 account has not been closed, the funds including interest will be transferred to an Instant Access Shares. A two year fixed term, regular savings account with a variable interest rate Regular monthly savings from £1 up to £200 per month You are able to make up to two withdrawals per year (January-December) Interest is added to the account annually on 31st December and on maturity | More details | regular |
| Help to Buy ISA (Cumbria Only) | Saving for a Home, Tax Free | 3.00% | Have you ever dreamed of getting a foot on the housing ladder and buying your first home? Here at Penrith Building Society we can help, with our Help to Buy: ISA you will not only earn interest on your savings but the Government will also give you a helping hand by topping up your savings by 25%, that’s £50 for every £200 you save up to a maximum bonus of £3,000. You can open your account with as little as £1 and you can save up to £1,200 in the first month You can then make regular payments into your Help to Buy: ISA of up to £200 Accounts are available to anyone in Cumbria and are limited to one per person, not one per home, so those buying together can each claim a bonus You only need to save £1,600 to claim the minimum Government bonus of £400 The bonus can only be used towards your first home with a purchase value of up to £450,000 in London, or up to £250,000 in other parts of the UK | More details | home tax-free |
| Homebuyers Bonus | Saving for a Home | 0.50% | The Homebuyers Bonus Account can be used alongside our Help to Buy: ISA account if you are a First Time Buyer. This account is for individuals looking to build up a deposit for their first home or saving to move house. After saving for your home for a minimum of six months, and providing you choose and are eligible to complete your mortgage, direct applications only, with Penrith Building Society, we will pay a bonus of 1% on your final savings balance when the account is closed. Please note this account is not available to re-mortgage customers. In addition to this, if your Penrith Building Society mortgage application is accepted, you may be entitled to a free *Application Fee and Product Fee providing your Homebuyers Bonus Account has been open for a minimum of six months. Accounts are limited to one per person, available to individuals over the age of 16 living in the UK, saving for a house purchase. This applies to direct mortgage application only. You can open your account with as little as £1 and you can save a maximum of £20,000 in the account You have instant access to your savings * The standard application fee is £100 and the Product Fee will vary depending on the product recommended but is a minimum of £175 | More details | home |
| Junior Affinity Regular Saver – Supporting the Penrith & District Red Squirrel Group | Affinity, Junior | 2.75% | By opening a Junior Affinity Regular Saver which supports Penrith & District Red Squirrel Group (P&DRSG) with Penrith Building Society, you can be a part of this worthwhile initiative supporting the P&DRSG without it costing you a penny. Penrith Building Society will make a cash payment each year to P&DRSG equal to 0.50% gross interest on the average total balance held in all Junior Affinity Regular Saver Accounts that support P&DRSG. The monthly subscription can be any amount from £5 up to the maximum of £100, if however a monthly subscription is missed this cannot be caught up in subsequent months. On maturity, if your Junior Affinity account has not been closed, the funds including interest will be transferred to an Instant Access Shares. Annual donation from Penrith Building Society to Penrith & District Red Squirrel Group A five year fixed term, regular savings account with a variable interest rate Regular monthly savings of any amount between £5 and £100 per month You are able to make up to two withdrawals per year (January to December) | More details | affinity junior |
| Junior Affinity Regular Saver – Supporting Penrith RUFC Juniors | Affinity, Junior | 2.75% | By opening a Junior Affinity Regular Saver which supports Penrith RUFC Juniors with Penrith Building Society, you can be a part of this worthwhile initiative supporting Penrith RUFC Juniors without it costing you a penny. Penrith Building Society will make a cash payment each year to Penrith RUFC Juniors equal to 0.50% gross interest on the average total balance held in all Junior Affinity Regular Saver Accounts that support Penrith RUFC Juniors. The monthly subscription can be any amount from £5 up to the maximum of £100, if however a monthly subscription is missed this cannot be caught up in subsequent months. On maturity, if your Junior Affinity account has not been closed, the funds including interest will be transferred to an Instant Access Shares. Annual donation from Penrith Building Society to Penrith RUFC Juniors A five year fixed term, regular savings account with a variable interest rate Regular monthly savings of any amount between £5 and £100 per month You are able to make up to two withdrawals per year (January to December) | More details | affinity junior |
| Junior Individual Savings Account (JISA) | Junior | 2.00% | JISAs are Junior Individual Savings Accounts which are free from Income Tax and have been introduced to replace Child Trust Fund Accounts. JISAs are a type of ISA available to eligible children in respect of which instructions are given by a “registered contact”. Our Cash JISA is an ideal way to make the most of your tax-free privileges without risking your capital on the stock market and it is simple to open. Annual interest is credited to the JISA account on the 5th April, the interest rate is variable Available to any young person under the age of 18, born on or after 3rd January 2011 or does not have a Child Trust Fund An eligible Child Trust Fund can be transferred to a JISA Withdrawals can only be made on maturity of the account when the child reaches the age of 18 | More details | junior |
| Junior Saver Shares | Junior | 2.50% (includes bonus of 1.25%) 1.25% (without the bonus) | Our Junior Saver Shares account is for young people up to the age of 18 years old who would like to save for the future, or for parents, guardians or relations who wish to invest on behalf of a minor (if the young person is under 7 years old we will ask that the application form is signed by an adult), as trustees. The account can be opened with as little as £1 and the maximum balance is £10,000. When the young person reaches 18 the account will mature, if no instructions have been received, the account will be closed and transferred to a holding account which pays an interest rate equivalent to that of the lowest band of our Instant Access Shares. Annual bonus credited to the account on the young persons birthday Variable annual interest paid on 31st December and at maturity The account can be opened with £1 and you can save up to £10,000 One account for each young person aged between 0-18 (or on their behalf) | More details | junior |
| Deposit Account (Limited Companies / Cumbria Only) | Club, Charity & Business | 0.80% (£20,000) 0.45% (£1,000) 0.40% (£100) | The Deposit account has been designed specifically for corporate bodies, solicitors clients accounts and trust and trustee accounts, with the exception of discretionary trusts, who are based in Cumbria. This account can be opened with a minimum of £100 and a maximum of £150,000 applies, please note the Society’s total limit on combined investments should not exceed £150,000. Instant access Interest is paid annually on 31st December Variable interest rate | More details | club-charity-business |
| Gross Account (Charity / Cumbria Only) | Club, Charity & Business | 0.75% | The Gross Account is specially for un-incorporated charities, bodies or funds who are based in Cumbria and who would like to invest without restricting access to their funds. This account can be opened with a minimum of £25 and a maximum of £150,000 applies, please note the Society’s total limit on combined investments should not exceed £150,000. Instant access Interest paid half yearly on 30th June and 31st December Variable interest rate | More details | club-charity-business |
| Instant Access Shares | Instant Access | 0.50% (£5,000) 0.45% (£1,000) 0.40% (£1.00) | If you want to save without restricting access to your funds but still see a return on your investment then our Instant Access Shares may suit you. Interest is paid in bands; the interest rate increases as your savings grow Interest is paid annually on 31st December Variable interest rate Minimum investment £1 | More details | instant-access |
| Affinity Account Supporting Sunbeam’s Music Trust | 0.50% | By opening a Sunbeam’s Music Trust Affinity Account with Penrith Building Society, you can help Annie and her team improve the lives of disabled children and adults through the creative freedom of music without it costing you a penny. Penrith Building Society will make a cash payment each year to Sunbeams Music Trust equal to 0.50% gross interest on the average total balance held in all Sunbeams Music Trust Affinity Accounts. Annual donation from Penrith Building Society to Sunbeam’s Music Trust. Instant access to your savings Interest paid annually on 31st December Variable interest rate Minimum balance £1, maximum investment £20,000 | More details | ||
| Affinity Account Supporting Pride in Penrith Lottery | Affinity, Instant Access | 0.50% | By opening a Pride in Penrith Lottery Affinity Account with Penrith Building Society you can be part of this worthwhile initiative to make Penrith a great place to live and work without it costing you a penny. The Society will make a cash payment each year to the Pride in Penrith Lottery equal to 0.50% gross interest on the average total balance held in all Pride in Penrith Lottery Affinity Accounts. This means that the more supporters who save in this scheme, the bigger the cash payment will be to the Pride in Penrith Lottery. Annual donation from Penrith Building Society to Pride in Penrith Lottery Instant access to your savings Interest paid annually on 31st December Variable interest rate Minimum balance £1, maximum investment £20,000 | More details | affinity instant-access |
| Affinity Account Supporting Eden Valley Hospice & Jigsaw, Cumbria’s Children’s Hospice | Affinity, Instant Access | 0.50% | By opening an Eden Valley Hospice & Jigsaw, Cumbria’s Children’s Hospice Affinity Account with Penrith Building Society, you can help them to continue to provide specialist care and support to local people who have life limiting conditions, without it costing you a penny. Penrith Building Society will make a cash payment each year to Eden Valley Hospice & Jigsaw, Cumbria’s Children’s Hospice equal to 0.50% gross interest on the average total balance held in all Eden Valley Hospice & Jigsaw, Cumbria’s Children’s Hospice Affinity Accounts. Annual donation from Penrith Building Society to Eden Valley Hospice & Jigsaw, Cumbria’s Children’s Hospice Instant access to your savings Interest paid annually on 31st December Variable interest rate Minimum balance £1, maximum investment £20,000 | More details | affinity instant-access |
| Cash ISA (Issue 2) | Tax Free | 1.25% | This account is for individuals looking to build on their savings and take advantage of tax free benefits associated with Cash ISA accounts. Your ISA savings will not count towards your Personal Savings Allowance. As Cash ISA’s are tax efficient accounts there is a yearly subscription limit set by the Government. Your ISA won’t close when the tax year ends, you can keep your savings on a tax-free basis for as long as you keep the money in your ISA account. The Cash ISA Issue 2 is available to individuals over the age of 16 living in the UK Instant access to your cash, please note the Cash ISA Issue 2 is not a flexible ISA Variable interest rate Annual subscription limit of £20,000 in the tax year 2019/20 | More details | tax-free |