Cumberland Building Society: Savings > Instant Savings

Key Product Information Summary Box

Account Name	Instant Savings Account
Interest rates (AER)	minimum balance	gross interest¹ / AER²	net interest³
	£50,000	1.15%	0.92%
	£25,000	0.90%	0.72%
	£10,000	0.65%	0.52%
	£5,000	0.45%	0.36%
	£2,000	0.20%	0.16%
	£500	0.20%	0.16%
	£100	0.20%	0.16%
	Interest paid yearly on 31st March
Tax Status	Interest is paid net of basic rate tax. If you are eligible you may register to receive interest paid gross
Conditions for bonus payment	No bonus payment applies to this account
Withdrawal arrangements	Instant access, subject to the minimum operating balance of £100 being maintained. If the account balance falls below £100 at any time, the account will be closed. Withdrawals not permitted by direct debit, standing order, regular internal transfer or faster payments.
Access	Local branch Telephone: 0845 601 8396 (transfer between own Cumberland accounts)

minimum opening balance £100
minimum operating balance £100
pay into the account at any time
withdraw up to £500 each day in cash and up to £99,999.99 by crossed cheque (cheques for larger amounts are normally available the following day)

gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law
annual equivalent rate (AER) illustrates what the interest rate would be if interest was paid and added each year
net interest is the rate of interest which would be payable after allowing for the deduction of income tax at 20%, i.e. the rate specified by law. Net interest rates have been rounded and are for illustrative purposes only

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