With over 150 years’ experience, Principality Building Society is the 6th largest UK building society. It is a mutual building society, owned by and run for the benefit of its 500,000 members, taking care of over £8 billion worth of customer assets.
Principality Building Society has a range of Cash ISAs that are easy to open and manage:
1 Year Fixed Rate Cash ISA
The 1 Year Fixed Rate ISA is good if you have a lump sum to invest and you can leave your investment untouched for one year. It allows you to save from £500 up to £20,000 tax-free each year. With a fixed interest rate of 0.65% AER, interest is calculated on your daily balance and paid on maturity or monthly. You must be aged 16 or over, a UK resident for tax purposes and an individual applicant to open and operate this account. No withdrawals are allowed before the end of the one year term.
Triple Access Cash ISA
The Triple Access Cash ISA is suitable if you want to save regularly but like the comfort of knowing you can access your money up to three times a year. It also has a tiered interest rate from 0.35% to 0.50% AER, so the more you save the more interest you’ll earn. This ISA lets you enjoy flexible withdrawal benefits. You can save from £1 to £20,000 tax-free each year.
Easy Cash ISA
The Easy Cash ISA offers easy access to your money in branch. With a variable interest rate of 0.25% AER you can save from £500 to £20,000 tax-free each year. This is a flexible ISA so you do not have to give notice to close your account or make a withdrawal.
Variable Rate Cash ISA
The Variable Rate Cash ISA is suitable if you would like a flexible approach to tax-free saving, allowing you to add to your ISA throughout the year, up to the annual limit of £20,000, and giving you easy access to your funds with no notice required. It has a variable interest rate of 0.10% AER; Interest is calculated on your daily balance and can be paid annually.
The Web ISA is ideal if convenience and flexibility are important to you and you are comfortable using a computer. You can open it online and enjoy all the benefits of a flexible ISA, transferring money to your linked account whenever you need it. This ISA has a variable interest rate of 0.55% AER tax-free. You must be aged 16 or over, a UK resident for tax purposes and an individual applicant to open and operate this account.
Principality Building Society offer a range of financial services including savings products, mortgages, insurance and commercial property funding.
Principality Building Society Reviews and Ratings
Online reviews for Principality Building Society are fairly poor. Several customers have complained about being locked out of the system, complaints not being resolved, rude unhelpful staff and processes being very slow. There are many, however, who have found the customer service to be good and would be happy to describe the company as an honest, decent lender.
Trustpilot – 2.7/5 (based on 42 reviews)
- The 6th largest UK building society with over 150 years’ experience
- A large choice of fixed and variable rate Cash ISAs
- Includes a Web ISA with flexible benefits
- Clear, easy to understand information on website
- Useful online calculators and web resources
- A good level of product detail offered
- Cash ISAs only
- Stocks and Shares, Lifetime ISAs or other ISA products not offered
- Many negative reviews
- Complaints about processes being very slow and people being locked out of the system
- Some reports of complaints not being resolved, and rude unhelpful staff
- You must be aged 16 or over and a UK resident to apply
Website: Principality Building Society