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Principality Launches New Savings Product

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Principality Building Society has launched a new savings product, which will allow for flexibility of withdrawals for life’s special milestones.

The Triple Access Saver allows for three withdrawals per calendar year, as well as additional deposits when needed.

The savings account offers a tiered interest rate of 1% on balances up to £25,000 and 1.25% on balances over £25,000. Accounts can be opened in branch or agency, with a minimum balance of £1.

Recently, the building society was named as Wales’ most recommended savings provider, following a survey conducted by market research company Ipsos MORI. The Society received the highest Net Promoter Score in relation to other savings providers in Wales (who had over 100 survey respondents).

Naveed Mohamed, Head of Products, Principality Building Society said:

“We’re delighted to be offering the Triple Access Saver to market. We are aware that there is an increasing need to be able to withdraw savings for memorable moments in our Member’s lives – such as family celebrations and once in a lifetime holidays. The Triple Access Saver will cater to this need, offering three withdrawals per calendar year.”

To find out more, visit www.principality.co.uk/tas

Product Summary:

  • Rates correct as of 04/11/2019
  • Minimum age 16
  • For balances eligible for the higher rate of interest, the higher rate applies to the total balance
  • Maximum balance £2,000,000
  • Up to 3 withdrawals per calendar year
  • Closure permitted but counts as a withdrawal
  • Interest is calculated on your daily balance and paid annually on 1st January every year#
  • Ipsos MORI Financial Research Survey (FRS), 24 months ending June 2019, data based on 223 respondents. Principality Building Society was ranked 1st over 24 months for NPS Scores in relation to all Wales’ savings providers with 100 respondents or over.