Save & Support Accounts

Save with us and support local clubs and charities including Eden Valley Hospice and Hospice At Home
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SAVE & SUPPORT AT A GLANCE

0.80%
Cumberland Blues Account
Tiered-Rate Account

Variable interest rate up to 0.80% Gross interest(1)/AER(2)

Carlisle United benefit from an annual donation from The Cumberland equivalent to 1% of the total average balance of all Cumberland Blues savings accounts during the year

Plus 5% discount in the club shop, 10% discount on hire of function room and conference facilities, entry into a Carlisle United regular free prize draw, special passbook
0.80%
Hospices Account
Tiered-Rate Account

Variable interest rate up to 0.80% Gross interest(1)/AER(2)

Eden Valley Hospice and Hospice At Home benefit from an annual donation from The Cumberland equivalent to 1% of the total average balance of all Cumberland Hospices accounts during the year.

Next Steps

Save & Support with The Cumberland

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Summary Box

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

£10,000

0.80%

£5,000

0.70%

£100

0.45%

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 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 £100 deposit?

If £100 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 £100.45.

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 £5,035.

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 £10,080.

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 £100.

You can manage your account by:

  • Visiting any Cumberland branch;

  • Calling our Customer Service Team on 01228 403141.

  • Using the Cumberland Internet Banking service or the Cumberland Mobile Banking App.

Can I withdraw money?

Yes. Up to 6 instant access penalty free withdrawals each calendar year.

If more than 6 withdrawals are made in a calendar year the account will be transferred to either an existing or new Instant Savings account.

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

Additional Information?

The account is restricted to one per person.

It can only be opened as a share account to individuals who are investing their money on their own behalf or on behalf of another person (i.e. a parent/guardian or on behalf of a child).

We will make an annual donation to Carlisle United Football Club, equivalent to 1% of the total balances held in the account.

To obtain entry to Carlisle United’s regular free prize draw for Cumberland Blues Savers you should tick the appropriate box on the application form.

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? Variable Gross Interest1/AER2

£10,000

0.80%

£5,000

0.70%

£1

0.45%

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 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 deposit?

If £1 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.

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 £5,035.

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 £10,080.

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 £1.

A minimum balance of £1 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:

  • Visiting any Cumberland branch;

  • Calling our Customer Service Team on 01228 403141.

  • Using the Cumberland Internet Banking service or the Cumberland Mobile Banking App.

Can I withdraw money?

Yes. Up to 6 instant access penalty free withdrawals each calendar year.

If more than 6 withdrawals are made in a calendar year the account will be transferred to either an existing or new Instant Savings account.

You will not be eligible to open another hospice account for 12 months after the closure date.

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

Additional Information?

The account is restricted to one per person.

It can only be opened as a share account to individuals who are investing their money on their own behalf or on behalf of another person (i.e. a parent/guardian or on behalf of a child).

We will make an annual donation to the hospices, equivalent to 1% of the total balances held in the account.

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

MANAGING YOUR SAVINGS

Internet Banking
On computer, tablet and smartphone
View your balances and transfer money between your accounts, safely and securely. Current account required.
Mobile Banking App
Available on iPhone and Android phones
Use our mobile banking app to manage your money wherever you are. Current account required.
In Branch
34 branches in our region
Pop into your nearest branch where our friendly and helpful staff are on hand to assist you 6 days a week.
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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.