Online Savings - Penrith Building Society

Welcome to Penrith Building Society

We’ve been helping our members with their savings and mortgage needs since 1877. We are based in the beautiful town of Penrith in Cumbria and we are proud to be able to offer our savings and mortgage products throughout the UK.

There is something very special about being a mutually owned organisation, where all of our customers become members of our Society. For all of us here at Penrith, it is about putting our members at the heart of everything we do. Whether you are saving for something special, buying your first home or want to talk to us about making your money work harder for you, we are here to help, listening and supporting, as we have been since 1877.

Limited Access E-Saver Issue 2

4.21%

Gross rate / 4.21% AER

Rate Type

Variable

Access

Limited

Interest Paid

Annually

Availability

Online

~~Branch~~
~~Post~~

Our online accounts are available to open and manage online, giving you flexibility to access your accounts at a time to suit your schedule.

Find out more

What is the interest rate?	+Gross Rate% 4.21	^AER% 4.21
	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 Savings Accounts Digital Terms and Conditions.
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 £1,042.10. 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 18 and is opened and managed through our online portal only As part of our account opening process we will confirm your identity. If we are unable to do this electronically, we may need to ask you for some additional personal identification This account is limited to one account per individual (joint accounts are not permitted) Savings limits & additional deposits Minimum investment £1.00 Maximum investment £50,000. You can add to your account at any time subject to the maximum investment limit The total limit on your combined savings with us should not exceed £250,000 A Nominated Bank Account must be registered at the point of account opening. We will only accept Nominated Bank Accounts in your name or to which you are a joint party from financial institutions that hold a UK banking licence A deposit into the account must be received within 14 days of application Payment of the funds into your account can only be made in £ sterling from your Nominated Bank Account
Can I withdraw money?	Yes, your Limited Access E-Saver allows up to 6 withdrawals per calendar year. A minimum of £1 must remain in your account. The 6th withdrawal will close the account. Withdrawal requests received before 3pm will be processed by us on the same day and deposited into your nominated bank account the next working day. Requests received after 3pm will be processed by us on the next working day after receipt and will be deposited into your nominated bank account the following working day after processing.
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.

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, the Society’s complaints procedures are detailed in the Terms & Conditions for Savings Accounts.

If you would like to talk to us about your account, you can

Send us a secure message through our Penrith Online portal
Email our savings team at savings@penrithbs.co.uk
Speak to our savings team on 01768 863675

DOWNLOAD SUMMARY BOX AS A PDF

DOWNLOAD THE TERMS AND CONDITIONS FOR SAVINGS ACCOUNTS

Easy Access E-Saver (Issue 1)

2.25%

Gross rate / 2.25% AER

Rate Type

Variable

Access

Easy Access

Interest Paid

Annually

Availability

Online

~~Post~~
~~Branch~~

A variable rate.

This account is available online only.

Terms and conditions for the Easy Access E-Saver (Issue 1) are available by clicking “Find out more” below.

Find out more

What is the interest rate?	+Gross Rate% 2.25	^AER% 2.25
	Interest is variable, calculated daily and added to your account balance 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 Savings Accounts Digital Terms and Conditions.
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 £1,022.50.
How do I open and manage my account?	Opening your account. This account is available to UK residents over 18 and is opened and managed through our online portal only As part of our account opening process we will confirm your identity. If we are unable to do this electronically, we may need to ask you for some additional personal identification Savings limits & additional deposits Minimum investment £1.00 The total limit on your combined savings with us should not exceed £250,000 A Nominated Bank Account must be registered at the point of account opening. We will only accept Nominated Bank Accounts in your name or to which you are a joint party from financial institutions that hold a UK banking licence A deposit into the account must be received within 14 days of application Payment of the funds into your account can only be made in £ sterling from your Nominated Bank Account.
Can I withdraw money?	Yes, there are no restrictions on making withdrawals. A minimum of £1 must remain in your account. Withdrawal requests received before 3pm will be processed by us on the same day and deposited into your nominated bank account the next working day. Requests received after 3pm will be processed by us on the next working day after receipt and will be deposited into your nominated bank account the following working day after processing.
Additional Information	Tax treatment depends on individual circumstances and may be subject to change in the future.

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 online savings team on 01768 863675.
Email our online savings team at support@penrithbs.co.uk
Visit our website www.penrithbs.co.uk

DOWNLOAD SUMMARY BOX AS A PDF

DOWNLOAD THE TERMS AND CONDITIONS FOR SAVINGS ACCOUNTS

Our Online Savings Range

Saving a little bit regularly or setting money aside for something bigger? Our range of ISA’s, easy access and fixed term accounts are designed to help you save however you need to, for however long you want to. From junior accounts to tax free, we’ve taken the hassle out of opening a savings account with us.

We have savings products that can be opened and managed online, in Branch or by post and all of our products are protected by the Financial Services Compensation Scheme. Find out more here