Principality launches fifth issue of popular e-SAVER account

Principality Building Society is set to launch the fifth edition of its popular e-SAVER account, designed to reward online savers with a competitive rate of 3.01% Gross p.a/AER (variable).

Launching Wednesday 29 February, the e-SAVER 5 includes an unconditional bonus of 1.36% for the first 12 months, after which point the account will reverts to the Principality e-SAVER 1 -  an account that was awarded by Moneyfacts in 2009 for being the most consistent on the market for 18 months.

Available for any size of balance from £1 up to £1 million, there are no limits on the number and size of deposits you can make into e-SAVER 5 . Customers can manage their account entirely online, giving them control over their savings.

James Ablett, Senior E-commerce Manager at Principality Building Society says the e-SAVER 5 offers savers a good balance between excellent returns and access to their money. He said: " Our e-saver accounts are designed to reward savers while still offering long term value, ensuring a good, consistent rate of return beyond the first 12 months. E-SAVER 5 is a simple and transparent account that offers savers flexibility, convenience, instant access to their money and a competitive interest rate."

Interest on the e-SAVER Issue 5 is calculated daily to 31 December and is paid annually on 1 January, into the e-SAVER Issue 5 account.

The e-SAVER Issue 5 account is available to UK residents over the age of 16 and can be opened by visiting principality.co.uk.