Online Limited Access (Issue 4)

Our Online Limited Access account may be right for you if you want to manage your account online, save when it suits you, and like the comfort of knowing you can take money out up to three times each calendar year.


  Interest rate Balance Gross* each year AER†
Variable £1 - £1,000,000 0.55% 0.55%
  • Open online
  • Pay in from £1 to £1,000,000
  • Interest is paid each year on 1 January
  • You can take money out three times in every calendar year
  • You can close this account at any time but closure counts as a withdrawal
  • We can stop accepting applications at any time
Summary box
  Summary Box
What is the interest rate? 0.55% Gross* / AER† (Variable) each year

(See the meanings of ‘Gross’ and ‘AER’ below this summary box.)

Interest is calculated each day on the money in the account and paid on 1st January every year.
Can Principality change the interest rate?
  • Yes, variable interest rates can go up or down.
  • If you have £100 or more in the account, we will give notice of any reduction in interest rates at least 14 days before the change takes effect.
  • For more information, see the section Changes to interest rates in our Savings Terms and Conditions.
What would the estimated balance be after 12 months based on a £1,000 deposit? £1,005.50

This is based on no further money being put in or taken out of the account and no change to the interest rate.
How do I open and manage my account?
  • You must be 16 or over and be a UK resident (see your Online Limited Access account terms).
  • You must open the account online. You can’t have more than one of this issue number of Online Limited Access in your name.
  • You have to link your Online Limited Access account to a current account in your name with another UK bank or building society in order to move money when you need it.
  • You must keep at least £1 (the minimum balance) in the account.
  • If the account reaches £1,000,000 you cannot pay any more money in.
  • If we do not receive the first payment within five business days of the account opening, we will close it.
  • You must manage the account using the online service, Your Account at
Can I withdraw money?
  • Yes, you can make three withdrawals from the account every calendar year.
  • Closing the account counts as a withdrawal.
Additional Information
  • Service charges and costs may apply to the account. These are set out in our Tariff of Charges.
  • In certain circumstances we may refuse an instruction for using an account. These circumstances are set out in our Savings Terms and Conditions.
  • 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 and search Personal Savings Allowance.
  • The interest rates quoted above were correct on 21/10/2021.

Before you apply below, please read the Online Limited Access Issue 4 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.

Putting money into your savings account Once you've opened your savings account, for most accounts you should pay money in within 5 business days. Click here for information on how you can do that.

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Online Limited Access Issue 4