Principality Building Society

Principality Building Society is the largest building society in Wales, and the sixth largest in the UK. Its roots date back to the middle of the 19th century.

As Principality is a building society, it's owned by its members rather than shareholders.

In 2015 it bought the naming rights to the Millennium Stadium in Cardiff, which in 2016 was renamed the Principality Stadium. 

It provides several different banking products, including savings accounts and mortgages, it doesn't offer a current account, it also offers home and life insurance.

Principality Building Society
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Gold ribbon: first place

Mortgages

Ranked 5th of 23 providers reviewed.

Customer happiness score 72.54%
Customer trust score 62.68%
Complaints performance 81.72%
Transparency rating 53.67%
Fairer Finance score
Reviewed Autumn 2023
68%
Most recommended
Gold ribbon: first place

Savings Accounts

Ranked 13th of 53 providers reviewed.

Customer happiness score 65.95%
Customer trust score 60.43%
Complaints performance 78.69%
Transparency rating 74.93%
Fairer Finance score
Reviewed Autumn 2023
70%

Children's Accounts

Children's Savings Accounts

Principality Building Society

2 Year Fixed Rate Bond (Issue 443)

Account Type i 2 Year Bond
Interest Rate (AER) i 4.7%
Minimum Opening Balance i £500.00
Maximum Balance i £2,000,000.00
Notice Period i
Fixed Term Length i 2 Year Bond
Minimum Age to Open Account i 0
Maximum Age i 0
Withdrawal Penalty i
Part of FSCS i
Sharia Account i
Additional Opening Criteria i
Additional Information i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i

Principality Building Society

3 Year Fixed Rate Bond (Issue 444)

Account Type i 3 Year Bond
Interest Rate (AER) i 4.4%
Minimum Opening Balance i £500.00
Maximum Balance i £2,000,000.00
Notice Period i
Fixed Term Length i 3 Year Bond
Minimum Age to Open Account i 0
Maximum Age i 0
Withdrawal Penalty i
Part of FSCS i
Sharia Account i
Additional Opening Criteria i
Additional Information i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i

Principality Building Society

Dylan Advanced Saver

Account Type i Easy Access
Interest Rate (AER) i 4.6%
Minimum Opening Balance i £1.00
Maximum Balance i £50,000.00
Notice Period i
Fixed Term Length i
Minimum Age to Open Account i 0
Maximum Age i 15
Withdrawal Penalty i Only one withdrawal, including account closure, is allowed per calendar year.
Part of FSCS i
Sharia Account i
Additional Opening Criteria i
Additional Information i Reverts into Instant Access Account or the nearest equivalent when the child reaches 16.
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i

Principality Building Society

5 Year Fixed Rate Bond (Issue 445)

Account Type i 5 Year Bond
Interest Rate (AER) i 4.12%
Minimum Opening Balance i £500.00
Maximum Balance i £2,000,000.00
Notice Period i
Fixed Term Length i 5 Year Bond
Minimum Age to Open Account i 0
Maximum Age i 0
Withdrawal Penalty i
Part of FSCS i
Sharia Account i
Additional Opening Criteria i
Additional Information i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i

Principality Building Society

Branch Instant Access

Account Type i Easy Access
Interest Rate (AER) i 3.5%
Minimum Opening Balance i £1.00
Maximum Balance i £2,000,000.00
Notice Period i
Fixed Term Length i
Minimum Age to Open Account i 0
Maximum Age i 0
Withdrawal Penalty i
Part of FSCS i
Sharia Account i
Additional Opening Criteria i
Additional Information i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i

Principality Building Society

1 Year Fixed Rate Bond (Issue 442)

Account Type i 1 Year Bond
Interest Rate (AER) i 4.7%
Minimum Opening Balance i £500.00
Maximum Balance i £2,000,000.00
Notice Period i
Fixed Term Length i 1 Year Bond
Minimum Age to Open Account i 0
Maximum Age i 0
Withdrawal Penalty i
Part of FSCS i
Sharia Account i
Additional Opening Criteria i
Additional Information i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i

Home insurance (building and contents)

3 stars
Theft from outbuildings i Sum insured
Matching sets (contents) i 50% of the cost of replacing the undamaged parts
Alternative accommodation cover limit for buildings i £50,000.00
Protection against inflation (Buildings)
Contents cover limit i £80,000.00
Money in the home i £500.00
Visitor's possessions i £1,000.00
Office equipment i £15,000.00
Buildings cover limit i £1,000,000.00
Trace and access i £5,000.00
Keys/locks if lost or stolen (Buildings) i Sum insured
Alternative accommodation cover limit for contents i £50,000.00
Cancellation fee within 14 days i £0.00
Cancellation fee after 14 days i £0.00
Contents compulsory excess i £100.00
Flood excess i £500.00
Escape of water excess (minimum) i £500.00
Property owner liability i £5,000,000.00
Liability to domestic employees i £10,000,000.00
Liability as a tenant i £10,000.00
Replace belongings new for old i
2 stars
Theft from outbuildings i Sum insured
Matching sets (contents) i 50% of the cost of replacing the undamaged parts
Alternative accommodation cover limit for buildings i £25,000.00
Protection against inflation (Buildings)
Contents cover limit i £80,000.00
Money in the home i £250.00
Visitor's possessions i £0.00
Office equipment i £5,000.00
Buildings cover limit i £1,000,000.00
Trace and access i £0.00
Keys/locks if lost or stolen (Buildings) i £750.00
Alternative accommodation cover limit for contents i £25,000.00
Cancellation fee within 14 days i £0.00
Cancellation fee after 14 days i £0.00
Contents compulsory excess i £100.00
Flood excess i £500.00
Escape of water excess (minimum) i £500.00
Property owner liability i £5,000,000.00
Liability to domestic employees i £10,000,000.00
Liability as a tenant i £5,000.00
Replace belongings new for old i

Buildings insurance

3 stars
Matching sets (Buildings) i 50% of the cost of replacing the undamaged parts
Frozen pipes i
Escape of water excess for buildings i £500.00
Underground pipes, cables and tanks i Covered as standard
Selling your home i
Emergency entries i
Accidental damage to drains i
Buildings compulsory excess i £100.00
Unoccupied period i 60 days
Helpline i
Cancellation fee after 14 days (buildings) i £0.00
Amendment fee (telephone) i £0.00
Property owner liability i £5,000,000.00
1 stars
Matching sets (Buildings) i 50% of the cost of replacing the undamaged parts
Frozen pipes i
Escape of water excess for buildings i £500.00
Underground pipes, cables and tanks i Covered as standard
Selling your home i
Emergency entries i
Accidental damage to drains i
Buildings compulsory excess i £100.00
Unoccupied period i 60 days
Helpline i
Cancellation fee after 14 days (buildings) i £0.00
Amendment fee (telephone) i £0.00
Property owner liability i £5,000,000.00

Contents insurance

5 stars
Matching sets (contents) i 50% of the cost of replacing the undamaged parts
Theft from outbuildings i Sum insured
Cover for items away from home i Optional
Property owner liability i £5,000,000.00
4 stars
Matching sets (contents) i 50% of the cost of replacing the undamaged parts
Theft from outbuildings i Sum insured
Cover for items away from home i Optional
Property owner liability i £5,000,000.00

Savings Accounts

1 Year Fixed Rate Accounts

Principality Building Society

1 Year Fixed Rate Bond (Issue 442)

Interest Rate (AER) i 4.7%
Minimum Opening Balance i £500.00
What happens at maturity? i The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Maximum Balance i £2,000,000.00
Minimum Age to Open Account i 0
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty i

2 Year Fixed Rate Accounts

Principality Building Society

2 Year Fixed Rate Bond (Issue 443)

Interest Rate (AER) i 4.7%
Minimum Opening Balance i £500.00
What happens at maturity? i The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Maximum Balance i £2,000,000.00
Minimum Age to Open Account i 0
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty i

3 Year Fixed Rate Accounts

Principality Building Society

3 Year Fixed Rate Bond (Issue 444)

Interest Rate (AER) i 4.4%
Minimum Opening Balance i £500.00
What happens at maturity? i The provider will contact you before the account matures. If you don't instruct them the money will be paid into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Maximum Balance i £2,000,000.00
Minimum Age to Open Account i 0
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i

5 Year Fixed Rate Accounts

Principality Building Society

5 Year Fixed Rate Bond (Issue 445)

Interest Rate (AER) i 4.12%
Minimum Opening Balance i £500.00
What happens at maturity? i The provider will contact you before the account matures. If you don't instruct them the money will be paid into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Maximum Balance i £2,000,000.00
Minimum Age to Open Account i 0
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty i

Easy Access Accounts

Principality Building Society

Online Bonus Double Access

Interest Rate (AER) i 5%
Balance Tiers i 5.00% from £1
Minimum Opening Balance i £1.00
Withdrawal Penalty i 2 withdrawals per year which then incurs closure.
Part of FSCS i
Maximum Balance i £1,000,000.00
Minimum Age to Open Account i 16
Penalty free withdrawals? i
Sharia Account i
Additional Information i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Additional Opening Criteria i

Principality Building Society

Branch 5 Access Bonus Saver

Interest Rate (AER) i 4.8%
Balance Tiers i 4.80% from £1
Minimum Opening Balance i £1.00
Withdrawal Penalty i There are only 5 withdrawals per calendar year, the 5th withdrawal will close the account.
Part of FSCS i
Maximum Balance i £2,000,000.00
Minimum Age to Open Account i 16
Penalty free withdrawals? i
Sharia Account i
Additional Information i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Additional Opening Criteria i

Principality Building Society

Web Saver (Issue 8)

Interest Rate (AER) i 3.5%
Balance Tiers i 3.50% from £1
Minimum Opening Balance i £1.00
Withdrawal Penalty i
Part of FSCS i
Maximum Balance i £250,000.00
Minimum Age to Open Account i 16
Penalty free withdrawals? i
Sharia Account i
Additional Information i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Additional Opening Criteria i

Principality Building Society

Branch Instant Access

Interest Rate (AER) i 3.5%
Balance Tiers i 3.50% from £1
Minimum Opening Balance i £1.00
Withdrawal Penalty i
Part of FSCS i
Maximum Balance i £2,000,000.00
Minimum Age to Open Account i 0
Penalty free withdrawals? i
Sharia Account i
Additional Information i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Additional Opening Criteria i

Regular Savers

Principality Building Society

1 Year Regular Saver Bond (Issue 33)

Interest Rate (AER) i 5.5%
Maximum Balance i £3,000.00
Withdrawal Penalty i Access is only available upon closure.
Minimum Monthly Investment i £1.00
Maximum Monthly Investment i £250.00
Minimum Opening Balance i £1.00
Minimum Age to Open Account i 16
Sharia Account i
Part of FSCS i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Notice Period i
Fixed Term Length i 1 Year Bond
Additional Information i

Principality Building Society

First Home Steps Account (Issue 4)

Interest Rate (AER) i 5.25%
Maximum Balance i £25,000.00
Withdrawal Penalty i
Minimum Monthly Investment i £1.00
Maximum Monthly Investment i £1,500.00
Minimum Opening Balance i £1.00
Minimum Age to Open Account i 18
Sharia Account i
Part of FSCS i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Notice Period i
Fixed Term Length i 5 Year Bond
Additional Information i Reverts into Instant Access Account, or nearest equivalent then available, upon maturity.

Principality Building Society

First Home Steps Online (Issue 3)

Interest Rate (AER) i 5.25%
Maximum Balance i £25,000.00
Withdrawal Penalty i
Minimum Monthly Investment i £1.00
Maximum Monthly Investment i £1,500.00
Minimum Opening Balance i £1.00
Minimum Age to Open Account i 18
Sharia Account i
Part of FSCS i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Notice Period i
Fixed Term Length i 5 Year Bond
Additional Information i Reverts into a Maturity e-Saver, or nearest equivalent then available, upon maturity.

Savings Accounts (ISAs)

1 Year Fixed Rate ISAs

Principality Building Society

1 Year Fixed Rate Cash ISA (Issue 329)

Interest Rate (AER) i 4.6%
Minimum Opening Balance i £500.00
What happens at maturity? i The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Minimum Age to Open Account i 16
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i Earlier access costs 360 days interest
Can you transfer in funds from another cash ISA? i
Can you transfer in funds from a stocks and shares ISA? i

2 Year Fixed Rate ISAs

Principality Building Society

2 Year Fixed Rate Cash ISA (Issue 330)

Interest Rate (AER) i 4.6%
Minimum Opening Balance i £500.00
What happens at maturity? i The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Minimum Age to Open Account i 16
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i Earlier access costs 180 days interest
Can you transfer in funds from another cash ISA? i
Can you transfer in funds from a stocks and shares ISA? i

3 Year Fixed Rate ISAs

Principality Building Society

3 Year Fixed Rate Cash ISA (Issue 331)

Interest Rate (AER) i 4.3%
Minimum Opening Balance i £500.00
What happens at maturity? i The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Minimum Age to Open Account i 16
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i Earlier access costs 270 days interest
Can you transfer in funds from another cash ISA? i
Can you transfer in funds from a stocks and shares ISA? i

5 Year Fixed Rate ISAs

Principality Building Society

5 Year Fixed Rate Cash ISA (Issue 328)

Interest Rate (AER) i 4.02%
Minimum Opening Balance i £500.00
What happens at maturity? i The provider will contact you before the account matures. If you don't instruct them the money will be paid into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Minimum Age to Open Account i 16
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i Earlier access on closure only and incurs a 360 day loss of interest.
Can you transfer in funds from another cash ISA? i
Can you transfer in funds from a stocks and shares ISA? i

Easy Access ISAs

Principality Building Society

Online Bonus ISA Issue 4

Interest Rate (AER) i 5%
Minimum Opening Balance i £1.00
Part of FSCS i
Withdrawal Penalty i
Minimum Age to Open Account i 16
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Penalty free withdrawals? i
Can you transfer in funds from another cash ISA? i
Can you transfer in funds from a stocks and shares ISA? i

Principality Building Society

Branch 5 Access Bonus Cash ISA

Interest Rate (AER) i 4.8%
Minimum Opening Balance i £1.00
Part of FSCS i
Withdrawal Penalty i There are only 5 withdrawals per tax year, the 5th withdrawal will close the account.
Minimum Age to Open Account i 16
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Penalty free withdrawals? i
Can you transfer in funds from another cash ISA? i
Can you transfer in funds from a stocks and shares ISA? i

Principality Building Society

Branch Instant Access Cash ISA

Interest Rate (AER) i 3.5%
Minimum Opening Balance i £1.00
Part of FSCS i
Withdrawal Penalty i
Minimum Age to Open Account i 16
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Penalty free withdrawals? i
Can you transfer in funds from another cash ISA? i
Can you transfer in funds from a stocks and shares ISA? i