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) |
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- 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)
To arrange an appointment to discuss opening the right account for you, simply contact us using any of the methods set out on the left of this page
- 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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(0845) 601 8396
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