Fixed Interest Fixed Term Accounts

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FIXED OPTIONS AT A GLANCE

0.80%
1 Year Fixed
Fixed Interest Fixed Term Account

0.80% Fixed Gross interest(1)/AER(2) until 31 July 2020
1.05%
2 Year Fixed
Fixed Interest Fixed Term Account

1.05% Fixed Gross interest(1)/AER(2) until 31 July 2021
1.25%
3 Year Fixed
Fixed Interest Fixed Term Account

1.25% Fixed Gross interest(1)/AER(2) until 31 July 2022

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Summary Box

Minimum balance What is the interest rate? (Fixed Gross Interest1/AER2)

£1,000

0.80%

Interest paid

Fixed interest until 31 July 2020. Paid annually on 31 July 2020. 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 £1,000 was deposited in the account on opening on 1 April, assuming no further deposits or withdrawals are made, on 31 March the account balance, including interest would be £1,008.00

This figure is for illustrative purposes only.
How do I open and manage my account?

This account is available to open at any Cumberland branch, for customers who live in our operating area.

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 for a 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 or on 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.

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.

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.

Additional Information

No bonus payment applies to this account.

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

Minimum balance What is the interest rate? (Fixed Gross Interest1/AER2)

£1,000

1.05%

Interest paid

Fixed interest until 31 July 2021. Paid annually on 31 July. 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 £1,000 was deposited in the account on opening on 1 April, assuming no further deposits or withdrawals are made, on 31 March the account balance, including interest would be £1,010.50

This figure is for illustrative purposes only.
How do I open and manage my account?

This account is available to open at any Cumberland branch, for customers who live in our operating area.

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 for a 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 or on 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.

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.

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.

Additional Information

No bonus payment applies to this account.

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

Minimum balance What is the interest rate? (Fixed Gross Interest1/AER2)

£1,000

1.25%

Interest paid

Fixed interest until 31 July 2020. Paid annually on 31 July 2022. 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 £1,000 was deposited in the account on opening on 1 April, assuming no further deposits or withdrawals are made, on 31 March the account balance, including interest would be £1,012.50

This figure is for illustrative purposes only.
How do I open and manage my account?

This account is available to open at any Cumberland branch, for customers who live in our operating area.

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 for a 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 or on 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.

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.

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.

Additional Information

No bonus payment applies to this account.

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

3. Tax Free rate of interest is the rate payable, under current legislation, where interest is exempt from income tax. (Your tax benefits will be lost if your ISA ceases to be tax exempt).

Managing your savings

Internet Banking
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34 branches in our region
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Your eligible deposits with Cumberland Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme. Any deposits you hold above the limit are unlikely to be covered.

Please click here for further information or visit www.fscs.org.uk.