Instant access account
Variable interest rate up to 3.90% Gross interest(1)/AER(2)
Important Information: New customers must live within our operating area to open a Savings account.
Important Information: New customers must live within our operating area to open a Savings account.
Instant access account
Variable interest rate up to 3.90% Gross interest(1)/AER(2)
Cumberland Plus and Freedom Apprentice current account holders only
Variable interest rate of 4.10% Gross interest(1)/AER(2)
| Account Name | Instant Savings (Issue 8) |
| What is the interest rate? | 3.90% Variable Gross Interest*/AER† Interest is calculated daily, and is paid gross (without deduction of tax) annually on 31st March. |
| Can Cumberland Building Society change the interest rate? | Yes – The rate of interest paid on money in your account is variable and may be changed by us. Where we do so, we will give you reasonable notice in advance of the change. Examples of when changes may happen include a change in the Bank of England base rate, or market condition changes such as, general interest rates changes on similar accounts offered by other savings account providers. 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 based on a £1,000 deposit? | 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 £1,039.00. 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, or on internet banking for customers that hold an internet enabled current account. New customers must live within our operating area.
A minimum balance of £100 must be maintained in the account. If the account balance falls below this at any time, the account may be closed. You can manage your account by:
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| Can I withdraw money? | Yes – this is an Instant access account, and you can 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), subject to the minimum operating balance of £100 being maintained. Withdrawals not permitted by direct debit, standing order, faster payments, or regular internal transfer. |
Additional Information | No bonus payment applies to this account. For full details of our Variable Rate products please refer to our separate leaflet. Download leaflet |
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
| Account Name | E Savings (Issue 3) |
| What is the interest rate? | 4.10% Variable Gross Interest*/AER† Interest is calculated on a daily basis, and is paid gross (without deduction of tax) annually on 31st March into your associated Cumberland Plus or Freedom Apprentice current account. |
| Can Cumberland Building Society change the interest rate? | Yes – The rate of interest paid on money in your account is variable and may be changed by us. Where we do so, we will give you reasonable notice in advance of the change. Examples of when changes may happen include a change in the Bank of England base rate, or market condition changes such as, general interest rates changes on similar accounts offered by other savings account providers. 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 based on a £1,000 deposit? | 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 £1,041.00. This figure is for illustrative purposes only. |
| How do I open and manage my account? | This account is available to open for internet enabled, Cumberland Plus and Freedom Apprentice current account customers. The account can be opened at any Cumberland branch or on internet banking.
Only one sole account or one joint account per customer. The minimum balance must be maintained in the account. If the account balance falls below this at any time, the account may be closed. You can manage your account by using the Cumberland Internet Banking service or the Cumberland Mobile Banking App. |
| Can I withdraw money? | Yes – Instant access withdrawals via online transfer to your Cumberland current account. Withdrawals are not permitted by direct debit, standing order, regular internal transfer or faster payments. |
Additional Information | If you close or de-register your internet banking Cumberland Plus and Freedom Apprentice current account your eSavings account will, in the absence of any alternative instructions, be closed. No bonus payment applies to this account. For full details of our Variable Rate products please refer to our separate leaflet. Download leaflet |
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
View your balances and transfer money between your accounts, safely and securely. Current account required.
Use our mobile banking app to manage your money wherever you are. Current account required.