Minimum balance |
What is the interest rate? (Variable gross interest1/AER2) |
£10,000 |
4.30% |
Interest paid |
Fixed interest until 19 December 2024. Interest paid annually on 30 November. Interest is added to the account on an annual basis or can be transferred to another Cumberland account or a different bank or building society account. |
Can Cumberland Building Society change the interest rate? |
No - The rate of interest paid on money in your account is fixed and cannot be changed by us during the term of the products.
For further details, please read clause 8.7-8.9 in our Savings & Current Account Terms & Conditions leaflet. |
What would the estimated balance be after 12 months? |
If £10,000 was deposited in the account on opening, assuming no further deposits or withdrawals are made, on 19 December 2024 the account balance, including interest, would be £10,430.00. |
These figures are for illustrative purposes only. |
Who can apply |
This account is available to open if you are within our operating area, please contact our team on 01228 403320 (9am to 5pm) or 01228 403141 (out of business hours) who will be able to help.
The maximum balance is £1,000,000.
Your Fixed Interest Fixed Term Account will mature at the end of the agreed investment term. Shortly before the end of the fixed investment term we'll contact you with details of the options you can take on maturity, one of which may be to extend your investment fora further fixed term.
You'll be able to withdraw your investment or transfer to an alternative account without penalty on the maturity date, provided you tell us on or before this date.
If we receive no instructions on or before the maturity date, and a further Fixed Interest Fixed Term Account is available, your investment will be automatically rolled over into such an account on the terms and conditions applying to that account, a copy of which will be supplied before the maturity of your existing account. It's therefore important that you let us have your instructions, on or before the maturity date.
No bonus payment applies to this account
You can manage your account by:
- Visiting any Cumberland branch
- Using the Cumberland Internet Banking service or the Cumberland Mobile Banking app only if you have an internet enabled current account.
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Can I withdraw money? |
No - it's not possible to withdraw from, transfer or close the account before the maturity date of the Fixed Interest Fixed Term Account. Penalty free withdrawal on maturity date.
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Additional Information |
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1. Gross interest is the contractual rate of interest payable (without deduction of tax) and you will be responsible for paying any tax you owe on interest as per your individual personal savings allowance.
2. Annual equivalent rate (AER) illustrates what the interest rate would be if interest was paid and added each year