Maturity 2 Year Fixed Rate Bond (FRB154)

This product is exclusive to our loyal savers, you will benefit from a higher rate. Our 2 Year Fixed Rate Bond may be right for you if you have a lump sum to invest and can leave your investment untouched for 2 years.

	Summary Box
What is the interest rate?	Fixed interest 7.85% Gross* 8.00% AER† (See the meanings of ‘Gross’ and ‘AER’ at the bottom of the page) Interest is calculated each day on the money in the account and paid after 6 months.
Can Principality change the interest rate?	No, the rate is fixed for 6 months until the bond matures (when the account comes to an end).
What would the estimated balance be after 6 months based on depositing £200 every calendar month?	£1,227.53 This is based on you paying in £200 a month for 6 months, making the first payment on the date the account was opened.
How do I open and manage my account?	You must be 16 or over and be a UK resident (see your 6 Month Regular Saver account terms). This can be a joint account, but you can’t have more than one of this issue number of the Regular Saver in your name. You can open the account in branch, at an agency or online. You must keep at least £1 (the minimum balance) in the account. The most you can pay in each month is £200, in one or more payments. You do not have to make payments into the account every month. If your bond reaches £1,200, you cannot pay any more money in. The bond will mature 6 months after the date it was opened. You can manage the account in branch, at an agency, by post, or by using the online service, Your Account, at principality.co.uk
Can I withdraw money?	No, you cannot make any withdrawals from your bond before it matures. You can close your bond before it matures. Any interest you’ve earned will be added to the account balance and paid to you. We will write to you before your bond matures to find out what you want to do with your money. If we don’t receive any instructions from you before your bond matures, we will move your money to our Instant Access Account or the nearest equivalent we offer at the time.
Additional information	Service charges and costs may apply to your bond. These are set out in our Tariff of Charges. 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 & Customs (HMRC). For more information, visit gov.uk and search Personal Savings Allowance. In certain circumstances we may refuse an instruction for using an account. These circumstances are set out in our Savings Terms and Conditions. The interest rates quoted above were correct on 20/06/2024.
Beth yw'r gyfradd llog?	Fixed interest 7.85% Gross* 8.00% AER† (See the meanings of ‘Gross’ and ‘AER’ at the bottom of the page) Interest is calculated each day on the money in the account and paid after 6 months.
A all y Principality newid y gyfradd llog?	No, the rate is fixed for 6 months until the bond matures (when the account comes to an end).
Beth fyddai'r balans amcangyfrifedig ar ôl 6 mis yn seiliedig ar adnau o £200 bob mis?	£1,227.53 This is based on you paying in £200 a month for 6 months, making the first payment on the date the account was opened.
Sut ydw i’n agor a rheoli fy nghyfrif?	You must be 16 or over and be a UK resident (see your 6 Month Regular Saver account terms). This can be a joint account, but you can’t have more than one of this issue number of the Regular Saver in your name. You can open the account in branch, at an agency or online. You must keep at least £1 (the minimum balance) in the account. The most you can pay in each month is £200, in one or more payments. You do not have to make payments into the account every month. If your bond reaches £1,200, you cannot pay any more money in. The bond will mature 6 months after the date it was opened. You can manage the account in branch, at an agency, by post, or by using the online service, Your Account, at principality.co.uk
A gaf i godi arian?	No, you cannot make any withdrawals from your bond before it matures. You can close your bond before it matures. Any interest you’ve earned will be added to the account balance and paid to you. We will write to you before your bond matures to find out what you want to do with your money. If we don’t receive any instructions from you before your bond matures, we will move your money to our Instant Access Account or the nearest equivalent we offer at the time.
Gwybodaeth ychwanegol	Service charges and costs may apply to your bond. These are set out in our Tariff of Charges. 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 & Customs (HMRC). For more information, visit gov.uk and search Personal Savings Allowance. In certain circumstances we may refuse an instruction for using an account. These circumstances are set out in our Savings Terms and Conditions. The interest rates quoted above were correct on 20/06/2024.

You can only open this account if you have a Principality fixed term account coming to the end of its fixed term
Pay in from £500 to £2,000,000
You can add more money for up to 5 business days from the date you open it
Choose to have the interest paid once a year or every month
No withdrawals allowed before the end of the two-year term
You cannot close this bond early
We can stop accepting applications at any time. While it remains available you can only open it within 14 days of the date your existing Principality fixed term account comes to an end

Summary Box
Cymorth a chanllawiau

Summary Box

	Blwch Crynodeb
What is the interest rate?	Fixed annual interest 4.65% Gross* each year 4.65% AER† Fixed monthly interest 4.55% Gross* each year 4.65% AER† (See the meanings of ‘Gross’ and ‘AER’ at the bottom of the page) Interest is calculated each day on the money in the account and paid: annually (each year), on each anniversary of your bond opening; or monthly, starting one month after the date your bond opened, and then each month after that; whichever you choose.
Can Principality change the interest rate?	No, the rate is fixed for two years until the bond matures (when the account comes to an end).
What would the estimated balance be after 24 months based on a £1,000 deposit?	£1,095.16 This is based on you choosing to have interest paid annually and added to your bond and you not making any further payments into the account.
How do I open and manage my account?	You must be a Principality customer with a fixed term savings account coming to the end of its fixed term (maturing). You must be a UK resident (see your Maturity 2 Year Fixed Rate Bond account terms). You can move money from your maturing Principality account in branch, at an agency, by post or online. You must keep at least £500 (the minimum balance) in the account. If your bond reaches £2,000,000 (the maximum balance) you cannot pay any more money in. You can keep making payments into your bond for up to 5 business days after opening the account. Your bond will mature after two years, on the anniversary of the account opening. You can manage the account in branch, at an agency, by post, or by using the online service Your Account at principality.co.uk. You can open the account up to 14 days after the date your existing Principality account matures unless we remove it from sale. We can stop accepting new applications for this account at any time.
Can I withdraw money?	No, you cannot make withdrawals or close your bond before it matures. We will write to you before your bond matures to find out what you want to do with your money. If we don’t receive any instructions from you before your bond matures, we will move your money to our Instant Access Account or the nearest equivalent we offer at the time.
Additional Information	Service charges and costs may apply to your bond. These are set out in our Tariff of Charges. 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 & Customs (HMRC). For more information, visit gov.uk and search Personal Savings Allowance. Children are not exempt from paying tax. If the total amount of interest earned by a child is more than their tax-free Personal Savings Allowance, they may have to pay tax directly to HM Revenue & Customs (HMRC). If a child earns more than £100 in interest from money given by a parent, the parent may also have to pay tax. For more information visit gov.uk and search 'interest on savings for children'. In certain circumstances we may refuse an instruction for using an account. These circumstances are set out in our Savings Terms and Conditions. The interest rates quoted above were correct on 18/07/2024.

Cymorth a chanllawiau

Guides Read more for top tips on saving and answers to your savings and ISA questions.

Before you apply, please read the Maturity 2 Year Fixed Rate Bond (FRB154) Terms & Conditions

As you will be bound by the account terms and your information is held in accordance with our privacy policy, you should read, print and save the below documents for your records. If you have any queries relating to them please contact us for further information.

Please also read the following:

* 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 were paid once each year on the whole balance, including previous interest payments.

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