Savers who cannot get to a branch or have no access to the internet may find the Principality's new savings account of interest.
The building society is to provide a new postal savings account for armchair savers.
Savings account holders can either request their savings interest to be paid annually, at an interest rate of 4.60 per cent gross, or can have their savings interest paid monthly into a separate savings account, at an interest rate of 4.51 per cent gross.
Savers can store up to £50,000 through the service, which can be administered from home without entering a Principality branch.
Despite its nature, savings account holders can still request instant access withdrawals through the post. The savings account has a minimum balance of £1.
Tracy Morshead, managing director of Principality Building Society, said: "We are constantly reviewing and updating our product range."
"The new Postal Account enables us to extend our presence further afield, appealing to those customers who are unable to access our branches. This is our first step into the direct savings market."
The Principality is Wales' largest building society, with 51 branches and over 400,000 members.
Principality launches postal savings account
Principality launches postal savings account
Tue, 04 Oct 2005
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