Longer Term & Fixed Rate

If you have a lump sum to put away and don’t need access to it for a period of time, then a longer-term savings account might be the solution to your savings needs.

Longer Term and Fixed Term Savings - Penrith Building Society

Coniston Bond

1.40% Gross rate / 1.40% AER

Fixed Rate and Fixed Term

View Details

Summary Box

What is the interest rate?

+Gross Rate%

1.40

^AER%

1.40
  • Interest is paid annually on 31st December and on maturity will be added to the account balance.
  • Interest rates on this account are fixed for the two year term of the account.
What would the estimated balance be after 12 months based on a £5,000 deposit?

£5,070.00


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?

£5,140.98


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?

£5166.68


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 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 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 £150,000
  • No further receipts 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 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 be transferred to either your nominated account or 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 our range of savings accounts.
Additional InformationTax 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 Investment Accounts
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