Principality Building Society is the largest building society in Wales in terms of assets, and is considered to be the seventh largest in the UK. Aside from business savings accounts, Principality also offer a variety of other savings orientated products.
For example, you may also be interested in an instant access business savings account. These are typically suited to businesses that require immediate access to funds without any given waiting period, although the rates for these accounts may lower than notice or fixed rate business savings account deals.
There are two types of business savings accounts offered by Principality. Below is a brief outline of the accounts that are currently available.
30 Day Notice Accounts have a variable interest rate of 1.50% Gross/AER and require an initial investment of between £10,000 and 5,000,000. These accounts also require a 30 day notice period before they can be closed, and it should be noted that no withdrawals are permitted.
Fixed Rate Bonds have a fixed interest rate of up to 3.40% AER and may be selected for a period ranging from 6 months to 3 years. Interest for these accounts is typically paid at maturity and much like 30 day notice accounts, no withdrawals are permitted for this type of business savings account deal.