Longer Term Savings Accounts

Higher interest accounts which require a longer commitment to save
Arrange to meet us at your local branch. We're here 6 days a week
Book An Appointment

LONGER TERM ACCOUNT OPTIONS

If you can commit your money for longer

40 Days Notice Account
If you can commit your money for longer
40 Days Notice Account
Variable interest rate up to 0.50% Gross interest(1)/AER(2)

The account offers access via our branches

40 days notice or on demand subject to 40 days loss of interest on the amount withdrawn
Fixed Interest Fixed Term Account - Issue 879A (Annual Interest)
For those who can commit some of their savings for a fixed period of time to earn an interest rate guaranteed to remain fixed for the term of the investment
Fixed Interest & Term (Annual)
Fixed interest rate of 0.75% Gross interest(1)/AER(2) until 20 March 2018, paid on 28 February 2018. Interest added to the account annually or paid to another Cumberland account or bank account

It is not possible to withdraw from, transfer from or close the account prior to the maturity date of the Fixed Interest Fixed Term period. Penalty free withdrawal on maturity date
Fixed Interest Fixed Term Account - Issue 879M (Monthly Interest)
For those who can commit some of their savings for a fixed period of time to earn an interest rate guaranteed to remain fixed for the term of the investment
Fixed Interest & Term (Monthly)
Fixed interest rate of 0.75% Gross interest(1)/AER(2) until 20 March 2018. Interest paid monthly to another Cumberland account or bank account

It is not possible to withdraw from, transfer from or close the account prior to the maturity date of the Fixed Interest Fixed Term period. Penalty free withdrawal on maturity date

Account Details

Key Product Information Summary Box

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

£10,000

0.50%

£5,000

0.30%

£500

0.20%

Interest paid

Interest is calculated on a daily basis, and is paid gross (without deduction of tax) annually on 31 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 inthe 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 £500 deposit?

If £500 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 £501.

What would the estimated balance be after 12 months based on a £5,000 deposit?

If £5,000 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 £5,015.

What would the estimated balance be after 12 months based on a £10,000 deposit?

If £10,000 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 £10,050

.
These figures are 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 account must have a minimum opening balance of £500.

A minimum balance of £500 must be maintained in the account. If the account balance falls below this at any time, the account will be closed.

You can manage your account by:

Can I withdraw money?

Yes. 40 days notice is required, or on demand, subject to 40 days loss of interest on the amount withdrawn.

Subject to withdrawal arrangements, 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.

Withdrawals not permitted by direct debit, standing order, regular internal transfer or faster payments.

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

Key Product Information Summary Box

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

£5,000 and above

0.75%

Interest paid

Fixed Interest until 20 March 2018, paid on 28 February 2018. Interest added to the account on an annual basis 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 cannot be changed by us during the term of the products.

For further details, please see clause 8.7-8.9 in our Savings & Current Account Terms and Conditions Leaflet.

What would the estimated balance be after 12 months?

If £5,000 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 £5,037.50.

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 of this account is £500,000.

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 will 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 will 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 prior to the maturity of your existing account.

It is 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.

Can I withdraw money?

No - it is not possible to withdraw from, transfer or close the account prior to the maturity date of the Fixed Interest Fixed Term Account. Penalty free withdrawal on maturity date

Additional Information

All interest rates are correct as at 3 March 2017.

All interest rates shown can be withdrawn at the Society’s discretion and without prior notice.

The accounts shown will only be available for a short period of time, after which no further deposits may be made or new accounts opened.

The accounts may be withdrawn by us without notice and may be replaced by similar accounts paying different rates of interest.

This should be read in conjunction with the following leaflets Savings Accounts & Interest Rates; ISAs; Savings and Current Account Terms & Conditions

Fixed Interest Fixed Term Accounts are investments with interest rates guaranteed to remain fixed for the term of the investment.

These accounts are not suitable for you if you think that you may need access to your money before the end of the Fixed Interest Fixed Term period.

Before opening an account we believe it is important to establish your requirements, so that we can be sure we are able to offer the services you require and open the most appropriate account for you. To discuss your requirements, simply call at any Cumberland branch where our staff will be pleased to help you.

If you are opening a joint account you should both visit the branch. If you are unable to call into a branch to open an account personally, please contact our Customer Service helpline on 01228 403141.

We do not accept new accounts from new customers who live outside our branch operating area. Some restrictions may also apply to new accounts available to existing customers who live outside our branch operating area. Existing customers should telephone 01228 403141 for further information.

Unless you have an account with us already, we are required by law to ask you to provide identification (such as a passport or full UK photocard driving licence) and proof of where you live (such as a recent original paid gas or electricity bill).

We may also verify your identity and address by making searches about you at credit reference agencies who supply us with information, including information from the Electoral Roll. These steps are necessary to help protect against fraud and money laundering.

We appreciate some customers may not be able to produce the above items of identification. Additional forms of identification and address verification are required from new customers who are unable to visit a branch. Further details of alternative acceptable identification and proof of address can be obtained from our Customer Service helpline on 01228 403141 or any Cumberland branch.

This is a share account and is available to people investing on their own behalf or on behalf of another person, or deposit accounts available to firms of solicitors investing in their name on behalf of clients and people investing as trustees for other groups of people, for example the treasurer and secretary on behalf of a club or society.

A Fixed Interest Fixed Term Cash ISA is only available to individuals and is subject to separate conditions available from any Cumberland branch.

Only share account holders are members of the Society with voting rights.

If an account is opened in more than one name, or operated by more than one trustee, only the first named person will be entitled to receive notices and communications from the Society and exercise membership and voting rights (if aged 18 or over).

When opening a joint account, you will be asked to choose whose name appears first on the account.

Cheques credited to Fixed Interest Fixed Term Accounts will earn interest from the second Society working day following the date of deposit. Society working days exclude Sunday and English Bank Holidays. For example, a cheque paid in on a Monday will earn interest from the Wednesday. Special arrangements apply to non-sterling cheques and cheques drawn on institutions outside the UK. Details are included in the Charges for Account Services leaflet available from any Cumberland branch or from our website.

We are covered by the Financial Ombudsman Service. We have an internal complaints procedure to help resolve any problems you may have concerning the operation of your account. Further details are available from any Cumberland branch.

Issues of Fixed Interest Fixed Term Accounts may be withdrawn by us at any time without prior notice and may be replaced by future issues of Fixed Interest Fixed Term Accounts at higher or lower rates than those shown below.

Once an issue has been withdrawn no further deposits will be accepted. Please note the conditions regarding additional subscriptions to fixed rate fixed term Cash ISA account(s).

NEW AND EXISTING INVESTORS

The Society requires new investors to agree to assign any possible future windfall rights, in the unlikely event of conversion to a bank or a takeover, to a charitable foundation. Full details are set out in the Society’s new account application form.

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

Key Product Information Summary Box

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

£5,000 and above

0.75%

Interest paid

Fixed Interest until 20 March 2018. Interest is added monthly and must be paid by transfer 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 cannot be changed by us during the term of the products.

For further details, please see clause 8.7-8.9 in our Savings & Current Account Terms and Conditions Leaflet.

What would the estimated balance be after 12 months?

If £5,000 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 £5,037.50.

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 of this account is £500,000.

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 will 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 will 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 prior to the maturity of your existing account.

It is 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.

Can I withdraw money?

No - it is not possible to withdraw from, transfer or close the account prior to the maturity date of the Fixed Interest Fixed Term Account. Penalty free withdrawal on maturity date.

Additional Information

All interest rates are correct as at 3 March 2017.

All interest rates shown can be withdrawn at the Society’s discretion and without prior notice.

The accounts shown will only be available for a short period of time, after which no further deposits may be made or new accounts opened.

The accounts may be withdrawn by us without notice and may be replaced by similar accounts paying different rates of interest.

This should be read in conjunction with the following leaflets Savings Accounts & Interest Rates; ISAs; Savings and Current Account Terms & Conditions

Fixed Interest Fixed Term Accounts are investments with interest rates guaranteed to remain fixed for the term of the investment.

These accounts are not suitable for you if you think that you may need access to your money before the end of the Fixed Interest Fixed Term period.

Before opening an account we believe it is important to establish your requirements, so that we can be sure we are able to offer the services you require and open the most appropriate account for you. To discuss your requirements, simply call at any Cumberland branch where our staff will be pleased to help you.

If you are opening a joint account you should both visit the branch. If you are unable to call into a branch to open an account personally, please contact our Customer Service helpline on 01228 403141.

We do not accept new accounts from new customers who live outside our branch operating area. Some restrictions may also apply to new accounts available to existing customers who live outside our branch operating area. Existing customers should telephone 01228 403141 for further information.

Unless you have an account with us already, we are required by law to ask you to provide identification (such as a passport or full UK photocard driving licence) and proof of where you live (such as a recent original paid gas or electricity bill).

We may also verify your identity and address by making searches about you at credit reference agencies who supply us with information, including information from the Electoral Roll. These steps are necessary to help protect against fraud and money laundering.

We appreciate some customers may not be able to produce the above items of identification. Additional forms of identification and address verification are required from new customers who are unable to visit a branch. Further details of alternative acceptable identification and proof of address can be obtained from our Customer Service helpline on 01228 403141 or any Cumberland branch.

This is a share account and is available to people investing on their own behalf or on behalf of another person, or deposit accounts available to firms of solicitors investing in their name on behalf of clients and people investing as trustees for other groups of people, for example the treasurer and secretary on behalf of a club or society.

A Fixed Interest Fixed Term Cash ISA is only available to individuals and is subject to separate conditions available from any Cumberland branch.

Only share account holders are members of the Society with voting rights.

If an account is opened in more than one name, or operated by more than one trustee, only the first named person will be entitled to receive notices and communications from the Society and exercise membership and voting rights (if aged 18 or over).

When opening a joint account, you will be asked to choose whose name appears first on the account.

Cheques credited to Fixed Interest Fixed Term Accounts will earn interest from the second Society working day following the date of deposit. Society working days exclude Sunday and English Bank Holidays. For example, a cheque paid in on a Monday will earn interest from the Wednesday. Special arrangements apply to non-sterling cheques and cheques drawn on institutions outside the UK. Details are included in the Charges for Account Services leaflet available from any Cumberland branch or from our website.

We are covered by the Financial Ombudsman Service. We have an internal complaints procedure to help resolve any problems you may have concerning the operation of your account. Further details are available from any Cumberland branch.

Issues of Fixed Interest Fixed Term Accounts may be withdrawn by us at any time without prior notice and may be replaced by future issues of Fixed Interest Fixed Term Accounts at higher or lower rates than those shown below.

Once an issue has been withdrawn no further deposits will be accepted. Please note the conditions regarding additional subscriptions to fixed rate fixed term Cash ISA account(s).

NEW AND EXISTING INVESTORS

The Society requires new investors to agree to assign any possible future windfall rights, in the unlikely event of conversion to a bank or a takeover, to a charitable foundation. Full details are set out in the Society’s new account application form.

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

Next
Book an appointment online now to discuss your needs
Book An Appointment

First class service which exceeds your expectations

Here 7 days a week. Until 8pm on weekdays.
Local customer service team
A first-class, personal & friendly service
Conveniently located town centre branches
Range of accounts with competitive interest rates
Long term benefits of mutuality

MANAGING YOUR SAVINGS

A personal, friendly service and convenience at your fingertips

Internet Banking Image
Internet Banking
On computer, tablet and smartphone
Internet Banking
View your balances and transfer money between your accounts via secure message. Safely and securely. Current account required
Mobile Banking App Image
Mobile Banking App
Available on iPhone and Android phones
Mobile Banking App
View the balances of your accounts, without even logging on should you wish. Safely and securely. Current account required
In Branch Image
In Branch
34 branches in our region on hand to help
Find A Branch
When you're out and about, a friendly local branch team are nearby to help you 6 days a week

Where Are You?

We welcome new applications from new and existing customers who live within our branch operating area.

We do not accept new accounts from new customers who live outside our branch operating area. Some restrictions may also apply to new accounts available to existing customers who live outside our branch operating area.

Our operating area is:

  • Cumbria (all CA and LA postcodes)
  • South-West Scotland (all DG postcodes and TD9)
  • West Northumberland (NE46-49)
  • North Lancashire (all PR, FY, LA AND BB1-2 and BB5-7)

How to open an account

You need to arrange an appointment at your local branch (Monday to Saturday). Alternatively, call into your local branch and speak to one of our team.

Unless you have an account with us already, we will need you to provide proof of your identity and evidence of your address. Please bring one original document of each. Acceptable documents include:

Proof of identity
  • Current valid signed passport
  • Current UK photocard driving licence
  • Firearms certificate or shotgun licence
  • A blue disabled drivers pass
  • An EU photocard driving licence
Evidence of your address
  • Recent utility bill dated within the last six months (mobile phone bills cannot be accepted though)
  • A council tax bill valid for the current year
  • Bank, building society or credit union statement dated within the last six months

If you open an account as a trustee, we will need proof of identity and evidence of address for both you and the account holder. If you do not have any of the above, please contact us before you visit.

Next
Book an appointment online now to discuss your needs
Book An Appointment
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.

Further information is available here or visit www.fscs.org.uk.