16/03/2010: Celebrating 150 years of business with an Exclusive Offer for Members

Principality Building Society, Wales’s largest building society, is celebrating its 150th birthday by rewarding its loyal customers with an exclusive Members Regular Saver Bond.

As a mutual organisation, Principality wanted to reward loyal customers for their support over the last 150 years. James Wright, Marketing Director at Principality, said:

“We have been looking after our Members' money for 150 years this year and we recognise that Principality wouldn’t be the great Welsh institution it is today without the support of our Members, in communities across Wales and beyond.  So we wanted to say a big thank you to them and our Members Regular Saver Bond is designed to do exactly that.

“The Bond offers tiered rates so the longer someone has been a Member, the higher the rate tier they will get.  The rates are fixed for 12 months, so our Members will also have the confidence of knowing what their rate will be for the next year.  In addition, the Bond offers higher rates than our standard regular saver bond, even though that bond is already a best buy product, offering 4.00% Gross* pa/AER#.”

The Members Regular Saver Bond is a limited availability product, offered exclusively to customers who have been a Member of Principality for two or more years. The Bond offers a fixed rate of up to 5.00% Gross p.a*/AER#, depending on length of Membership.

By making the required monthly deposit of between £20 and £500 for 12 months Members will enjoy the security of a fixed return, which is calculated on their daily balance.  This means that, by investing £500 each month on the same date, longstanding Members, who qualify for the highest rate of 5% Gross* pa/AER# , will earn £162.50 gross interest when the Bond matures.

The Bond is a fixed rate product so withdrawals are not permitted until it matures, 12 months after opening   The terms and rate for Principality’s Instant Access account will then apply, giving Members instant access to their money.

The exclusive Members Regular Saver Bond is only available to people who have held an account or a mortgage with Principality for two or more years.

For further product details and full terms and conditions go to www.principality.co.uk, phone 0845 0450 452 or visit the nearest Principality branch.
*Gross is the contractual rate of interest payable before the deduction of income tax at the rate specified by law. ^#AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.