Penrith Building Society savings rates — compare every account, plus switch offers and guides

Who they are

Penrith Building Society was established in 1877 in Penrith, Cumbria, as a mutual organisation dedicated to promoting home ownership and savings among local residents. That makes it one of the older surviving building societies in the UK. When the wave of demutualisations swept through the industry in the 1980s and 1990s, Penrith stayed true to its mutual roots - its small scale and commitment to independence helped it avoid the pressures that led larger peers to convert.

Being mutual means it is owned by its members, not shareholders - so if you save with them, your needs come first. The society operates from a single branch at 7 King Street, Penrith , though it offers savings accounts, including online options, to people across the UK.

Savings accounts

Penrith Building Society offers a range of savings products. These include ISA options - such as a 90 Day Notice ISA and a Cash ISA - alongside notice accounts suited to savers who do not need immediate access to a larger sum. Accounts can generally be opened by post or managed online, though the branch is there if you prefer a face-to-face conversation.

DepositScout does not currently have live rate data for Penrith Building Society on file. Rates change regularly, so the live figures shown on this page are your best guide to what they are paying right now.

Protection and peace of mind

Deposits held with Penrith Building Society are protected by the Financial Services Compensation Scheme (FSCS). Eligible deposits are covered up to £85,000 per person per institution - though it is worth noting that the FSCS limit rose to £120,000 on 1 December 2025. Penrith Building Society holds its own separate banking licence, so this limit is not shared with any other brand.

Is it right for you?

Penrith suits savers who value a straightforward mutual with genuine community roots over a slick app or a high-street name. It is a small society, so the product range is modest - but it aims to provide simple, great-value products backed by individual, personal service. If you like the idea of your money sitting with an institution that has been quietly doing the same job since the Victorian era, it is worth a look. Just check the live rates on this page before you decide - a good story only matters if the rate stacks up.