Plus Account

Extra dividend for longer term savings!

2 withdrawals permitted each year

0.5% higher dividend than Regular Shares*

Want more from your savings? Then the Penny Post Plus Account could be for you!

The Plus Account rewards longer term saving with a dividend 0.5% higher than regular savings. Saving a few ££s in a Plus Account, straight from your pay, is easy, and you may be surprised how your savings grow. Whether you’re saving for a home, a special occasion or to build a rainy day fund, the Plus Account is a great way to build longer term savings. Use our handy Savings Calculator to see how much you can save.

To help members during the Coronavirus pandemic, we’ve removed the withdrawal restrictions on the Plus account, so you can withdraw funds online or by telephone if required.

Benefits of a Plus Account
  • Save regularly, straight from your pay, every pay day or by standing order from your bank
  • Savings in the Plus Account earn a dividend 0.5% higher* than regular savings
  • Save from just £2 a week or £10 a month
  • Flexible saving – change the amount you save at any time
  • Manage your Plus Account online

*Dividends are not guaranteed. The rate payable is dependent on financial performance and voted on by members at the Annual General Meeting.

Things you should know
  • The Plus Account is for regular saving – no lump sum deposit payments are permitted
  • 2 withdrawals per year permitted, to encourage longer term saving
  • Exclusive to Penny Post members, the Plus Account runs alongside a member’s Regular Savings Account, and does not replace it.
  • Like all Penny Post saving accounts, members’ money is protected by the Financial Services Compensation Scheme (FSCS) currently to the value of £85,000. For more information visit the FSCS website.
Terms & Conditions
  • Open to members with a Regular Shares account.
  • Members must continue to save at least £2 weekly or £10 monthly in their Regular Shares account whilst saving in a Plus Account.
  • Attracts an Annual Dividend 0.5% higher than the Regular Shares account.
  • Regular saving deposits only – lump sum deposit payments are not permitted.
  • Maximum savings limits apply – £115 weekly or £500 monthly.
  • Effective from 1st March 2021, member deposits are restricted to a total of £1,000 per month across all Penny Post accounts.
  • 2 withdrawals are permitted annually – the Plus account runs from 1st October to 30th September each year.
  • If more than 2 withdrawals are required in a year, the Plus Account will be closed and any entitlement to dividend will be lost. The Plus Account can be re-opened the following year.
  • Savings in the Plus Account cannot be used as security against a loan.
  • The total balance in all your Penny Post saving accounts cannot exceed £50,000.
  • Other terms and conditions may apply.

Online Banking

Manage your account, request withdrawals, apply for loans and so much more…

How much can I save?

Members deposits are limited to £1,000 each month, across all their Penny Post savings accounts. 

Savings Calculator

Use our savings calculator to see how much you could save

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