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Online Easy Access

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Is this account right for me?

There are a few reasons why this account could suit you. This account is...

For the ones who
  • Want a variable interest rate
  • Want to make unlimited withdrawals
  • Want to manage their account online only
Not for the ones who
  • Want the certainty of a fixed rate
  • Want to manage their account in branch

Summary box

This summary contains key information about our Online Easy Access. You should read it carefully before applying.

3.25% Gross* each year/AER† (Variable) 
 
Interest is calculated each day on the money in the account and paid into the account on 1 January every year.

Yes, variable interest rates can go up or down. If you have £100 or more in the account, we will give notice of any reduction in interest rates at least 14 days before the change takes effect. 

For more information, see the section Changes to interest rates in our Savings Terms and Conditions.

£1,032.50 

This is based on: 

  • No further money being put in or taken out of the account.
  • No change to the interest rate. 

This calculation is for guidance only, to show you what a future balance could look like. It does not consider your individual circumstances. 

  • You must be 16 or over and be a UK resident (see your Online Easy Access account terms). 
  • You must open the account online.
  • This account can also be opened by us moving your existing Principality online-only account into it. If we do this, we will notify you before this happens. 
  • You have to link your Online Easy Access account to a current account in your name with another UK bank or building society in order to move money when you need it. 
  • You must keep at least £1 (the minimum balance) in the account or we will close it.
  • If the account reaches £1,000,000 you cannot pay any more money in. 
  • If we do not receive the first payment within five business days of the account opening, we may close it. 
  • You must manage the account using a secure online profile with Principality.

Yes, you can make a withdrawal or close the account at any time. 

Service charges and costs may apply to the account. These are set out in our Tariff of Charges. 

In certain circumstances we may refuse an instruction for using an account. These circumstances are set out in our Savings Terms and Conditions. 

If the total amount of interest you earn is more than your tax-free Personal Savings Allowance, you may have to pay tax directly to HM Revenue and Customs (HMRC). For more information, visit gov.uk.

The interest rates quoted above were correct on 12/09/2024. 

Downloadable documents

Please take some time to review this important information. We recommend you download these and keep copies somewhere safe; you may choose to print them.

Start saving today

Let's get you saving. You need to apply for this account online. When you apply online you can:

  • Open your account in around 10 minutes
  • Fund your account straight away
  • Name your account and set a goal to work towards

Additional information

*Gross interest is the rate of interest before income tax is deducted at the rate set by law.
†AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
^Tax-free means the interest you earn isn't subject to UK Income Tax and Capital Gains Tax. Tax treatment depends on your individual circumstances and could change in future.