Principality launches members only bond

16 November 2005
Principality Building Society is giving long-standing customers the opportunity to invest in a new fixed-rate bond.

The two-year Members' Bond is only available to customers who have been with the building society for three years or more.

"As a mutual organisation, Principality wanted to reward loyal customers for their support and the Members’ Bond is designed to do exactly that," said Tracy Morshead, managing director of Principality.

The bond has rate of 5.10 per cent AER for two years and matures on the second anniversary of when the account was opened.

Single members can invest up to £5,000 while joint applicants can invest as much as £10,000.

Interest is calculated daily and paid out annually and no withdrawals are permitted during the two-year term.

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