5.00

• Interest is paid annually on 31^st December and on maturity and will be added to the account balance.
• This is a two-year fixed term, variable rate, monthly subscription account.

For further details please see section 7 of our Terms and Conditions for Savings Accounts.

This projection is provided for illustrative purposes only. It is based on the maximum monthly subscription of £200 being made for the full term of 2 years, that no withdrawals are made, and interest being added to the account. The projected balance is based on the annual interest rate.

• This account is available to UK residents who are over 18 and can be opened and managed online through our Penrith Online Portal.
•  Minimum investment £1.
• The maximum monthly subscription is £200 for 24 months, the monthly subscription can be any amount up to the maximum. You are not required to make monthly subscriptions however, if a monthly subscription is missed this cannot be caught up in subsequent months.
•  A month means a calendar month, beginning on the first day of that calendar month and ending on the last day of that calendar month.
• This is a two-year fixed term monthly subscription account.
• The Society’s total limit on combined savings should not exceed £250,000.
• This account is limited to one account per individual customer (joint accounts are not permitted).
•  A Nominated UK Bank Account must be set up at the point of account opening and all withdrawals will be made to this account. (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).
• Your first payment into the account must be made from your Nominated Bank Account. Subsequent payments into the account can be made by bank transfer from any UK bank account.
• You can make payments into your account at any time by bank transfer.
• Payments into your account can only be made in £ sterling.
• You will receive an annual statement to help keep track of your savings. You will not receive a passbook for this account.

• You can withdraw money in the following ways:
•   Withdrawals can be requested to your nominated bank account by using the withdrawal request   facility in your online savings portal. Your nominated bank account must be a UK bank or building  society account in your name or to which you are a joint party.
•  When you request a withdrawal using the online saving portal, we will action it by the end of the  next working day following receipt.
• A maximum of four withdrawals per calendar year (January to December) . 
• The account will be closed upon the 5^th withdrawal in the same calendar year

On maturity, if no maturity instructions have been received, the maturing funds, including compounded interest will be transferred to an Instant Access Account.