Principality Building Society savings review

Principality Building Society offers a broad range of savings accounts with interest rates up to 8%.

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Principality Building Society

Based in Wales, the Principality Building Society is the sixth largest building society in the UK. It has more than 500,000 members and offers a range of mortgage, insurance and savings products.

Principality Building Society's top savings rate of 8% is available on one of its regular savings accounts.

Easy access savings accounts

Table: sorted by interest rate
Principality Building Society's best easy access rate of 4.55% is significantly lower than today's market-best rate of 7.29%.
1 - 5 of 8
Name Product UKFSA-SAV Account type Withdrawals Min. opening balance Rate Deposit protection Open via Incentive Apply link
Principality BS – Online Bonus Triple Access Issue 5
Variable
Instant access
£1
4.55% AER variable (includes a 1.35% bonus )
FSCS logo
protected
Open via: website.
Go to site
View details
Principality BS – Online Bonus 5 Access Cash ISA Issue 3
Cash ISA
Instant access
£1
4.55% AER variable (includes a 1.4% bonus )
FSCS logo
protected
Open via: website.
Go to site
View details
Principality BS – Branch 5 Access Bonus Saver (Issue 2)
Variable
Instant access
£1
4.2% AER variable (includes a 1.05% bonus )
FSCS logo
protected
Open via: branch.
Go to site
View details
Principality BS – Branch 5 Access Bonus Cash ISA (Issue 2)
Cash ISA
Instant access
£1
4.2% AER variable (includes a 1.05% bonus )
FSCS logo
protected
Open via: branch.
Go to site
View details
Principality BS – Branch Instant Access
Variable
Instant access
£1
3.1% AER variable
FSCS logo
protected
Open via: branch.
Go to site
View details
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Cash ISAs

Table: sorted by interest rate
Principality Building Society's best cash ISA rate of 4.55% is very slightly lower than today's market-best rate of 5%.
1 - 5 of 12
Name Product UKFSA-SAV Rate Minimum investment Interest paid Withdrawals Deposit protection Open via Incentive Table product description Apply link
Principality BS – Online Bonus 5 Access Cash ISA Issue 3
4.55% AER variable (includes a 1.4% bonus )
£1
Yearly
Instant access
FSCS logo
protected
Open via: website.
Go to site
View details
Principality BS – Branch 5 Access Bonus Cash ISA (Issue 2)
4.2% AER variable (includes a 1.05% bonus )
£1
Yearly
Instant access
FSCS logo
protected
Open via: branch.
Go to site
View details
Principality BS – 1 Year Fixed Rate Cash ISA (Issue 363)
4.1% AER fixed for 1 year
£500
Monthly
Withdrawals not permitted
FSCS logo
protected
Open via: branch, website, post.
Go to site
View details
Principality BS – 1 Year Fixed Rate Cash ISA (Issue 363)
4.1% AER fixed for 1 year
£500
Anniversary of account opening
Withdrawals not permitted
FSCS logo
protected
Open via: branch, website, post.
Go to site
View details
Principality BS – 2 Year Fixed Rate Cash ISA (Issue 364)
3.95% AER fixed for 2 years
£500
Anniversary of account opening
Withdrawals not permitted
FSCS logo
protected
Open via: branch, website, post.
Go to site
View details
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Fixed-rate bonds

Table: sorted by interest rate
Principality Building Society's best fixed-rate bond rate of 4.15% is slightly lower than today's market-best rate of 4.81%.
1 - 5 of 8
Name Product UKFSA-SAV Rate Invest Interest paid Withdrawals Open via Deposit protection Open via Incentive Table product description Apply link
Principality BS – 1 Year Fixed Rate Bond (Issue 474)
4.15% AER fixed for 1 year
£500 - £2,000,000
Monthly
Withdrawals not permitted
Branch, website, post
FSCS logo
protected
Open via: branch, website, post.
Go to site
View details
Principality BS – 1 Year Fixed Rate Bond (Issue 474)
4.15% AER fixed for 1 year
£500 - £2,000,000
Anniversary of account opening
Withdrawals not permitted
Branch, website, post
FSCS logo
protected
Open via: branch, website, post.
Go to site
View details
Principality BS – 2 Year Fixed Rate Bond (Issue 475)
4% AER fixed for 2 years
£500 - £2,000,000
Monthly
Withdrawals not permitted
Branch, website, post
FSCS logo
protected
Open via: branch, website, post.
Go to site
View details
Principality BS – 2 Year Fixed Rate Bond (Issue 475)
4% AER fixed for 2 years
£500 - £2,000,000
Anniversary of account opening
Withdrawals not permitted
Branch, website, post
FSCS logo
protected
Open via: branch, website, post.
Go to site
View details
Principality BS – 3 Year Fixed Rate Bond (Issue 476)
3.8% AER fixed for 3 years
£500 - £2,000,000
Anniversary of account opening
Withdrawals not permitted
Branch, website, post
FSCS logo
protected
Open via: branch, website, post.
Go to site
View details
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Regular savings accounts

Table: sorted by interest rate
Principality Building Society's top regular savings account rate of 8% is the best currently on the market.
Name Product UKFSA-SAV AER Save Withdrawal notice Interest paid Deposit protection Open via Incentive Table product description Apply link
Principality BS – 6 Month Regular Saver (Issue 2)
8% fixed for 182 days (on first £1,200)
£1 to £200 per month
6 month bond
On maturity
FSCS logo
protected
Open via: branch, website.
Go to site
View details
Principality BS – Christmas 2025 Regular Saver
7% fixed for 1 year (on first £1,500)
£1 to £125 per month
1 year bond
Anniversary of account opening
FSCS logo
protected
Open via: branch, website.
Go to site
View details
Principality BS – 1 Year Triple Access Regular Saver
5.6% variable (on first £600)
£1 to £50 per month
1 year bond
Yearly
FSCS logo
protected
Open via: branch, website.
Go to site
View details
Principality BS – 1 Year Regular Saver Bond (Issue 35)
5.15% fixed for 1 year (on first £3,000)
£1 to £250 per month
1 year bond
Anniversary of account opening
FSCS logo
protected
Open via: branch, website.
Go to site
View details
OFFER
Principality BS – First Home Steps Online (Issue 3)
4.85% variable (on first £25,000)
£1 to £1,500 per month
5 year bond
Yearly
FSCS logo
protected
Open via: website.
Celebratory Bonus of £500 paid to qualifying account holders who complete on a Principality Residential Mortgage to purchase their first home in England or Wales after 12 months and within 5 years of the date of opening account.
Go to site
View details
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What is Principality Building Society's best savings account with the highest interest rate?

The best savings account depends on what you want from your savings. If you're after fast access to your money, then an easy-access account should suit you. However, if you're happy to lock your money away for a time to access a higher rate, then a fixed-rate bond is a good option.

Finally, if you're looking to maximise your returns and shield them from income tax, consider an ISA. Below, we've listed the different types of accounts Principality Building Society offers, plus the highest interest rate currently available.

Savings account types include Easy access, cash ISAs, fixed-rate bonds, regular savers
Best easy access rate 4.55%
Best cash ISA rate 4.55%
Best fixed-rate bond rate 4.15%
Best regular saver rate 8%
Fixed bond terms 1 year - 5 years
Opening options Branch, website, post
FSCS protection

How to open an account

Depending on the account you choose, you will either need to open the account online, by post, in branch or at an agency. Note that branches are only in Wales or on the border.

With the exception of the children’s accounts, you will usually need to be either 16 or 18 years old, depending on the account you’re opening, and a UK resident.

Documents needed to open an account

To open an account you will need to provide a form of ID such as a UK passport or driving licence, as well as address verification such as a recent utility bill, local authority tax bill, water bill or bank or mortgage statement.

Is Principality Building Society safe?

Yes, Principality Building Society is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and PRA. This means all eligible deposits are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS). This increases to £170,000 for joint accounts.

Pros and cons

Pros

  • Flexibility. There’s a range of accounts to choose from, whether you’re looking for an easy access account or a fixed rate bond.
  • Multiple ways to bank. Manage your account online, by post or in branch.
  • FSCS protection. Money in accounts will be protected up to £85,000 per person.

Cons

  • Better rates elsewhere? Principality Building Society offers some competitive interest rates, but always check what’s on offer elsewhere first.
  • Limited branch access. You’ll need to live in Wales or on the border if you want branch access to your account.

Customer service information for Principality Building Society

Email support
Telephone support
In-app or live chat
Contact form
Branch support

Our verdict: Is a savings account from Principality Building Society worth it?

Principality Building Society has a wide variety of savings accounts to choose from for a wide variety of needs. Whether you’re looking for a fixed rate bond, a cash ISA or a children’s account, there should be something for you. On top of that, you can choose from accounts designed to help you build up a deposit for your first home, as well as accounts for NHS workers.

However, as always, make sure you’ve compared your options against the wider market before making a final decision.

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
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Writer

Rachel Wait is a freelance journalist and has been writing about personal finance for more than a decade, covering everything from insurance to mortgages. She has written for a range of personal finance websites and national newspapers, including The Observer, The Mail on Sunday, The Sun and the Evening Standard. Rachel is a keen baker in her spare time. See full bio

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