FAQs - Savings and Mortgages
You can open a savings account at one of our branches or agencies, online or by post.
Please click here to find your local branch or agency.
To open an account online, please login to or register with Progressive online from the button at the top of this page. To register, you will need valid photographic ID e.g. driving licence or passport.
Alternatively, you can download and complete an application form and forward it to us, together with a cheque to open the account, and a certified copy of valid photographic ID to prove your identity as the account holder, Nominee or Controller.
Click here for a full list of identification requirements, which include a valid UK or ROI Passport, valid UK or ROI Driving Licence, a valid Electoral Card and a current Smart Pass.
We undertake a search with a Credit Reference Agency or Data Reference Agency. They supply us with information, including from the Electoral Register, for the purpose of verifying your identity.
A record of the search is then retained. The search will not be seen or used by lenders to assess your ability to obtain credit. We may however use the information for the prevention of money laundering.
If we’re unable to verify your identity from the information provided you will be required to produce two items of documentation as proof of your identification.
This is the amount of interest you can earn on your savings without paying tax. Your allowance depends on whether you’re a basic, higher or additional rate taxpayer. Interest from ISAs doesn’t count towards this allowance. Further information on the Personal Savings Allowance can be found here.
Branch-based Fixed or Variable Rate Bond
We'll write to you in good time before your branch-based bond matures to advise you of the options available to you for the closing balance of your bond. If we don’t receive written instructions from you, the quoted rate of interest will cease to apply on the date of maturity and the balance of your Bond will be rolled over into a new Bond with a similar term and the interest rate prevailing at that time.
Online Fixed or Variable Rate Bond
We’ll contact you by email in good time before your online bond matures to advise you of the options available to you for the closing balance of your bond. On maturity of your bond the quoted rate of interest will cease to apply on the date of maturity and the balance of your bond will be rolled over into a new variable rate online instant access account at the interest rate applicable at that time.
Interest is calculated daily based on the amount of money you have in your account at the end of each day.
For the purpose of calculating interest, we work on the basis that there are 365 days in a year, unless it is a leap year where interest is calculated on a 366-day basis.
For funds lodged into your account by cash, electronic transfer, direct debit and direct credit, interest is paid from the day of receipt. For cheques and debit cards, interest is paid from the day following receipt of the funds.
Interest is earned on funds withdrawn from your account to the day before the withdrawal.