The Cambridge Easy Access Business Saver Issue 2

Features & Benefits

  • Available to sole traders, partnerships, limited companies, registered charities, housing associations, societies, clubs or associations
  • Minimum investment is £1,000
  • Withdrawals restricted to two per calendar month, but no notice is required
  • Interest paid annually on 31st December
  • You can pay in one cheque per day
  • You can pay in up to £1,000 in cash per day (notes only)
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Product Summary

Key Product Information for our Savings Account
Account name The Cambridge Easy Access Business Saver Issue 2
Interest rates (AERs) Interest rates are variable. Current interest rates can be found in the interest rates tab.
Tax status Interest is paid net of tax unless you have registered to receive interest with no tax deducted. If you have registered, interest will be paid gross.
Conditions for bonus payment Not applicable.
Withdrawal arrangements Take out cleared funds from your account, subject to a maximum of two withdrawals in any calendar month, without interest penalty.
Access You may operate your account at any of our local branches, via post and payments can be made into the account over the telephone using a debit card.
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Interest Rates

The Cambridge Easy Access Business Saver Issue 2
Rates effective from 14th July 2011
Minimum investmentGross p.a.%
AER%Net p.a%
£1,000+ 1.00 1.00 0.80

Interest rates are variable.

Interest paid annually on 31st December.

Interest paid will be at the net rate after the appropriate rate of income tax (currently 20%) has been deducted, or gross if declared on the application form. An account holder who is an individual may be liable to assessment to income tax at a higher rate upon the gross equivalent amount of interest received.

The receipt of interest gross by a company will not prevent that interest being liable to corporation tax. Where an account holder who is a company (as defined by S832(1) ICTA 1988) receives interest after deduction of income tax at the appropriate rate it will receive credit for the income tax suffered against its own liability to account for income tax on certain payments under schedule 16 ICTA 1988. In cases where such income tax exceeds the company’s liability so to account, the company may under S7(2) ICTA 1988 set the excess off against its corporation tax liability or, where the amount of its corporate tax liability is less, claim a repayment.

Tax treatment and rate of interest payable will depend on individual circumstances and may change in the future. Net rates are illustrative only and have been rounded to two decimal places.

We calculate interest on the balance of your account at the end of each day. You earn interest from the day you pay funds into your account until the day before you withdraw your funds.

When interest rates increase we will advertise the new rates, within three working days of the change, in at least two local newspapers (usually Cambridge News and Weekly News) and by placing notices in our branches. We will also place a notice on our website.

When interest rates reduce, we will personally tell you about it at least 14 days before we make the change if the change is material. Please refer to condition 7.7 of the ‘Terms and Conditions for Savers' for a more detailed explanation.

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Apply Now

All you need to do is download and complete the application form and send it, along with your cheque (made payable to your business name), to the address below.

For your own benefit and protection, you should read both the "Terms and Conditions for Business Savers" leaflet and the "Easy Access Business Saver Issue 2 Special Terms and Conditions" leaflet before applying to open the account. If you do not understand any point, please call us on 0845 601 3344 for further information.

Download Terms and Conditions for Business Savers

Download Easy Access Business Saver Issue 2 Special terms and conditions

To apply

Once you have completed your application form please send it with your cheque deposit and proof of identification to the freepost address below. Please make cheques payable to the business name.

Customer Contact Centre
The Cambridge Building Society
FREEPOST CB357 (No stamp required)
PO Box 232
Cambridge
CB5 8BR

Verifying your identity

We usually use an electronic verification system to verify your identity when you open a savings account with us. This is normally all that is required but there may be occasions where we may need to ask you for further proof of your identity. Please see our Verifying your identity page to check the requirements.

If you have any queries regarding our savings accounts or the account opening process, please do not hesitate to contact us on 0845 601 3344.

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