Fixed Rate Cash ISA Accounts

Tax-free saving and guaranteed interest rate for a fixed term of 1 or 2 years
Telephone appointments
You can book a telephone appointment with one of our advisors. Unfortunately we are unable to accept face-to-face appointments in branch at this time, however you can book a call online.
0.40%
1 Year Fixed
Fixed Interest Fixed Term Cash ISA Account

0.40% Fixed Tax Free(3)/AER(2) until 21 September 2022
0.55%
2 Year Fixed
Fixed Interest Fixed Term Cash ISA Account

0.55% Fixed Tax Free(3)/AER(2) until 21 September 2023

Summary Box

Minimum balance What is the interest rate? (Fixed tax Free3/AER2)

£1,000

0.40%

Interest paid

Fixed interest until 21 September 2022. Paid annually on 21 September. 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 at the end of the fixed term?

If £1,000 was deposited in the account on opening, 22 September 2021, assuming no further deposits or withdrawals are made, on 21 September 2022 the account balance, including interest, would be £1,004.

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.

Additional subscriptions can be made (up to the maximum limit of £20,000) during the tax year or until such time as a specific ISA issue is closed to subscriptions. At any point and without notice we may close a specific ISA issue to a new subscription, after which no further subscriptions would be allowed.

Your ISA Cash 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 on or before the maturity date, and a further ISA Cash 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 - Partial withdrawals aren’t permitted during the fixed interest term. Closures and closure transfers to another ISA provider will be subject to 90 days loss of interest.

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).

Minimum balance What is the interest rate? (Fixed tax Free3/AER2)

£1,000

0.55%

Interest paid

Fixed interest until 21 September 2023. Paid annually on 21 September. 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 at the end of the fixed term?

If £1,000 was deposited in the account on opening, 22 September 2021, assuming no further deposits or withdrawals are made, on 21 September 2023 the account balance, including interest, would be £1,011.03.

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.

Additional subscriptions can be made (up to the maximum limit of £20,000) during the tax year or until such time as a specific ISA issue is closed to subscriptions. At any point and without notice we may close a specific ISA issue to a new subscription, after which no further subscriptions would be allowed.

Your ISA Cash 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 on or before the maturity date, and a further ISA Cash 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 - Partial withdrawals aren’t permitted during the fixed interest term. Closures and closure transfers to another ISA provider will be subject to 90 days loss of interest.

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).

Opening an account
All you need to know about opening an account with The Cumberland
Internet Banking
View your balances and transfer money between your accounts, safely and securely. Current account required.
Mobile Banking App
Use our mobile banking app to manage your money wherever you are. Current account required.
FSCS Logo (Small) FSCS Logo (Large)

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.