View previous interest rates for savers
90 DAY NOTICE ACCOUNT
| Annual interest | Monthly interest | |||||
| Minimum Investment | Gross p.a.% | AER% | Net p.a.% | Gross p.a.% | AER% | Net p.a.% |
| £10,000+ | 1.80 | 1.80 | 1.44 | 1.75 | 1.76 | 1.40 |
| £25,000+ | 2.00 | 2.00 | 1.60 | 1.90 | 1.92 | 1.52 |
| £50,000+ | 2.10 | 2.10 | 1.68 | 2.00 | 2.02 | 1.60 |
| £100,000+ | 2.20 | 2.20 | 1.76 | 2.10 | 2.12 | 1.68 |
Interest rates are variable. Current rates effective from 14th May 2010. Annual interest paid on 31st December. Monthly interest paid on the last day of each month
60 DAY NOTICE ACCOUNT
| Annual interest | Monthly interest | |||||
| Minimum Investment | Gross p.a.% | AER% | Net p.a.% | Gross p.a.% | AER% | Net p.a.% |
| £10,000+ | 1.20 | 1.20 | 0.96 | 1.10 | 1.11 | 0.88 |
| £25,000+ | 1.30 | 1.30 | 1.04 | 1.20 | 1.21 | 0.96 |
| £50,000+ | 1.45 | 1.45 | 1.16 | 1.30 | 1.31 | 1.04 |
| £100,000+ | 1.65 | 1.65 | 1.32 | 1.45 | 1.46 | 1.16 |
Interest rates are variable. Current rates effective from 18th June 2009. Annual interest paid on 31st December. Monthly interest paid on the last day of each month.
INSTANT SAPPHIRE ACCOUNT
| Minimum Investment | Gross p.a.% | AER% | Net p.a.% |
| £1+ | 0.05 | 0.05 | 0.04 |
| £500+ | 0.05 | 0.05 | 0.04 |
| £5,000+ | 0.05 | 0.05 | 0.04 |
| £10,000+ | 0.10 | 0.10 | 0.08 |
| £25,000+ | 0.10 | 0.10 | 0.08 |
| £50,000+ | 0.25 | 0.25 | 0.20 |
Interest rates are variable. Current rates effective from 3rd April 2009.
Interest paid 30th June and 31st December.
HALLMARK ACCOUNT
| Half-yearly interest | Monthly interest | |||||
| Minimum Investment | Gross p.a.% | AER% | Net p.a.% | Gross p.a.% | AER% | Net p.a.% |
| £1,000+ | 0.15 | 0.15 | 0.12 | - | - | - |
| £2,500+ | 0.15 | 0.15 | 0.12 | 0.15 | 0.15 | 0.12 |
| £10,000+ | 0.25 | 0.25 | 0.20 | 0.20 | 0.20 | 0.16 |
| £25,000+ | 0.40 | 0.40 | 0.32 | 0.35 | 0.35 | 0.28 |
| £50,000+ | 0.50 | 0.50 | 0.40 | 0.45 | 0.45 | 0.36 |
| £100,000+ | 0.75 | 0.75 | 0.60 | 0.70 | 0.70 | 0.56 |
Interest rates are variable. Current rates effective from 3rd April 2009. Half-yearly interest paid on 30th June and 31st December. Monthly interest paid on the last day of each month.
REGULAR SAVINGS ACCOUNT (Issue 2)
| Minimum Investment |
Monthly Investment |
Bonus | Gross p.a.% | AER% | Net p.a.% |
| £20+ | £20 - £250 | Excluding conditional bonus |
0.05 |
0.05 | 0.04 |
| £20+ | £20 - £250 |
Including conditional bonus |
3.05 | 3.05 | 2.44 |
Interest rates are variable. Current rates effective from 18th June 2009. Annual interest and bonus, if applicable, paid at the end of the term.
MILLENNIUM ACCOUNT
| Minimum Investment | Gross p.a.% | AER% | Net p.a.% |
| £5,000+ | 1.60 | 1.60 | 1.28 |
| £50,000+ | 1.75 | 1.75 | 1.40 |
Interest rates are variable. Current rates effective from 3rd April 2009.
Interest paid annually on 31st December.
FIRST ACCOUNT (for customers up to age 21)
| Minimum Investment | Gross p.a.% | AER% | Net p.a.% |
| £1+ | 1.70 | 1.70 | 1.36 |
Interest rates are variable. Current rates effective from 3rd April 2009.
Interest paid annually on 31st December.
CASH CHILD TRUST FUND
Non-Stakeholder
| Minimum Investment | Tax-free% | AER% |
| £1+ | 2.50 | 2.50 |
Interest rates are variable. Current rates effective from 3rd April 2009.
Interest paid annually on day before child's birthday. Available to children born from 1st September 2002.
COMMUNITY ACCOUNT
| Minimum Investment | Gross p.a.% | AER% | Net p.a.% |
| £1+ | 0.05 | 0.05 | 0.04 |
| £500+ | 0.05 | 0.05 | 0.04 |
| £5,000+ | 0.10 | 0.10 | 0.08 |
| £50,000+ New Tier | 0.25 | 0.25 | 0.20 |
Interest rates are variable. Current rates effective from 3rd April 2009. New tier effective 1st November 2009. Interest paid annually on 31st December.
Savings Bonds
FIXED RATE SAVINGS BONDS
| Issue | Minimum Investment | Gross p.a.% | AER% | Net p.a.% |
| Issue Twenty Six** | £1,000 | 2.00 | 2.00 | 1.60 |
Interest rates are fixed.
**Interest paid on maturity only.
Individual Savings Accounts (ISAs)
1 YEAR FIXED RATE ISA (Issue 2)
Non-Stakeholder Cash ISA
| Minimum Investment | Tax-free% | AER% |
| £3,600 (during the 2009/10 tax year) | 2.50 | 2.50 |
| £5,100 (during the 2010/11 tax year) | 2.50 | 2.50 |
Interest rates are fixed. Rates effective from 16th March 2010.
Interest paid annually on 31st December and on the maturity date.
2 YEAR TRACKER ISA (open via phone or post)
Non-Stakeholder Cash ISA
| Minimum Investment | Tax-free% | AER% | Tracker rate |
| £3,600 (during the 2009/10 tax year) | 2.00 | 2.00 | BR + 1.50% |
| £5,100 (during the 2010/11 tax year) | 2.00 | 2.00 | BR + 1.50% |
| £20,000 | 2.50 | 2.50 | BR + 2.00% |
| £25,000 | 3.00 | 3.00 | BR + 2.50% |
Interest rates are variable. Rates effective from 16th March 2010. The annual interest rate tracks the Bank of England Base Rate (BR), currently 0.5%. It is guaranteed to track any changes in the Bank of England Base Rate within one month of a Bank of England announcement. Interest paid annually on 31st December and on the maturity date.
INSTANT ACCESS ISA
Stakeholder Cash ISA
| Minimum Investment | Tax-free% | AER% |
| £1+ | 0.70 | 0.70 |
| £3,000+ | 1.30 | 1.30 |
Interest rates are variable. Current rates effective from 3rd April 2009.
Interest paid annually on 31st December.
MEMBERS' NOTICE ISA
Non-Stakeholder Cash ISA
| Minimum Investment | Tax-free% | AER% |
| £500+ | 1.90 | 1.90 |
| £20,000+ | 2.10 | 2.10 |
| £25,000+ | 2.60 | 2.60 |
Interest rates are variable. Current rates effective from 18th June 2009. Interest paid annually on 31st December.
Business Savings Accounts
| Minimum Investment | Gross p.a.% | AER% | Net p.a.% |
| £1,000+ | 1.25 | 1.25 | 1.00 |
Interest rates are variable. Current rates effective from 14th December 2009.
Interest paid annually on 31st December.
NOTICE BUSINESS SAVER
| Minimum Investment | Gross p.a.% | AER% | Net p.a.% |
| £5,000+ | 1.50 | 1.50 | 1.20 |
Interest rates are variable. Current rates effective from 14th December 2009.
Interest paid annually on 31st December.
6 MONTH BUSINESS SAVER BOND
| Issue | Minimum Investment | Gross p.a.% | AER% | Net p.a.% |
| Issue 5 | £5,000 | 1.85 | 1.85 | 1.48 |
Interest rates are fixed. Interest paid on maturity.
1 YEAR BUSINESS SAVER BOND
| Issue | Minimum Investment | Gross p.a.% | AER% | Net p.a.% |
| Issue 6 | £5,000 | 2.05 | 2.05 | 1.64 |
Interest rates are fixed. Interest paid on maturity.
Accounts no longer available to new savers
| Minimum Investment | Tax-free% | AER% |
| £500+ | 1.90 | 1.90 |
| £20,000+ | 2.10 | 2.10 |
| £25,000+ | 2.60 | 2.60 |
Interest rates are variable. Current rates effective from 3rd April 2009. Interest paid annually on 31st December.
1 YEAR FIXED RATE ISA
Non-Stakeholder Cash ISA
| Annual Interest | Monthly Interest | ||||
| Issue | Minimum Investment | Tax-free p.a.% | AER% | Tax-free p.a.% | AER% |
| Issue 1 | £500+ | 2.30 | 2.30 | 2.20 | 2.22 |
Interest rates are fixed. Rates effective from 21st December 2009. Interest paid annually on 31st December, or monthly on last day of the month.
2 YEAR FIXED RATE ISA
Non-Stakeholder Cash ISA
| Annual Interest | Monthly Interest | ||||
| Issue | Minimum Investment | Tax-free p.a.% | AER% | Tax-free p.a.% | AER% |
| Issue 1 | £500+ | 3.25 | 3.25 | 3.15 | 3.20 |
Interest rates are fixed. Rates effective from 21st December 2009. Interest paid annually on 31st December, or monthly on last day of the month.
3 YEAR FIXED RATE ISA
Non-Stakeholder Cash ISA
| Annual Interest | Monthly Interest | ||||
| Issue | Minimum Investment | Tax-free p.a.% | AER% | Tax-free p.a.% | AER% |
| Issue 1 | £500+ | 3.60 | 3.60 | 3.50 | 3.56 |
Interest rates are fixed. Rates effective from 21st December 2009. Interest paid annually on 31st December, or monthly on last day of the month.
4 YEAR FIXED RATE ISA
Non-Stakeholder Cash ISA
| Annual Interest | Monthly Interest | ||||
| Issue | Minimum Investment | Tax-free p.a.% | AER% | Tax-free p.a.% | AER% |
| Issue 1 | £500+ | 4.10 | 4.10 | 4.00 | 4.07 |
Interest rates are fixed. Rates effective from 21st December 2009. Interest paid annually on 31st December, or monthly on last day of the month.
5 YEAR FIXED RATE ISA
Non-Stakeholder Cash ISA
| Annual Interest | Monthly Interest | ||||
| Issue | Minimum Investment | Tax-free p.a.% | AER% | Tax-free p.a.% | AER% |
| Issue 1 | £500+ | 4.30 | 4.30 | 4.20 | 4.28 |
Interest rates are fixed. Rates effective from 21st December 2009. Interest paid annually on 31st December, or monthly on last day of the month.
MEMBERS' STEPPED ISA
Non-Stakeholder Cash ISA
| Tax-free% | AER% | |
| Interest rate paid in Year 1 | 2.75 | 2.75 |
| Interest rate paid in Year 2 | 3.25 | 3.25 |
| Interest rate paid in Year 3 | 3.75 | 3.75 |
Minimum investment is £3,600 if you open the account during the 2009/10 tax year or £5,600 if you open it during the 2010/11 tax year.
Interest rates are fixed. Rates effective from 16th March 2010.
Interest paid annually on 31st December and on the maturity date.
REGULAR SAVINGS ACCOUNT
| Minimum Investment |
Monthly Investment |
Bonus | Gross p.a.% | AER% | Net p.a.% |
| £20+ | £20 - £250 | Excluding conditional bonus |
0.05 |
0.05 | 0.04 |
| £20+ | £20 - £250 |
Including conditional bonus |
4.05 | 4.05 | 3.24 |
Interest rates are variable. Current rates effective from 3rd April 2009. Annual interest and bonus, if applicable, paid at the end of the term.
BUSINESS ACCOUNT
| Minimum Investment | Gross p.a.% | AER% | Net p.a.% |
| £1+ | 0.05 | 0.05 | 0.04 |
Interest rates are variable. Current rates effective from 3rd April 2009.
Interest paid annually on 31st December.
BUSINESS SAVER BONDS
| Issue | Minimum Investment | Gross p.a.% | AER% | Net p.a.% |
| Issue 1 | £5,000 | 1.95 |
1.95 |
1.56 |
| Issue 2 | £5,000 | 2.15 | 2.15 | 1.72 |
| Issue 3 | £5,000 | 1.95 | 1.95 | 1.56 |
| Issue 4 | £5,000 | 2.15 | 2.15 | 1.72 |
Interest rates are fixed. Interest paid on maturity.
FIXED RATE SAVINGS BONDS
| Issue | Minimum Investment | Gross p.a.% | AER% | Net p.a.% |
| Issue Ten* | £1,000 | 5.10 | 5.10 | 4.08 |
| Issue Eleven* | £1,000 | 4.50 | 4.50 | 3.60 |
| Issue Twelve* | £1,000 | 3.50 | 3.50 | 2.80 |
| Issue Thirteen* | £1,000 | 3.00 | 3.00 | 2.40 |
| Issue Fourteen* | £1,000 | 2.90 | 2.90 | 2.32 |
| Issue Fifteen* | £1,000 | 3.50 | 3.50 | 2.80 |
| Issue Sixteen** | £1,000 | 2.00 | 2.00 | 1.60 |
| Issue Seventeen** | £5,000 | 2.15 | 2.15 | 1.72 |
| Issue Eighteen** | £5,000 | 2.50 | 2.50 | 2.00 |
| Issue Nineteen** | £5,000 | 3.25 | 3.25 | 2.60 |
| Issue Twenty Two** | £1,000 | 2.00 | 2.00 | 1.60 |
| Issue Twenty Three** | £5,000 | 2.60 | 2.60 | 2.08 |
| Issue Twenty Four** | £5,000 | 3.45 | 3.45 | 2.76 |
| Issue Twenty Five** | £1,000 | 3.00 | 3.00 | 2.40 |
Interest rates are fixed.
*Interest paid annually on 31st December and on maturity.
**Interest paid on maturity only.
The Gross rate is the contractual rate of interest payable before deduction of income tax at the rate specified by law (currently 20%).
The Net rate is the rate paid after income tax has been deducted (currently 20%).
The Annual Equivalent Rate (AER) is a notional rate which illustrates what the gross interest rate would be if interest was paid and added to the account annually. AERs on an account which pays monthly interest assumes interest is added to the account at the end of each month during the year. In practice, the option to have interest added in this way is not available on our Hallmark, 60 or 90 Day Notice, or Fixed Rate ISA monthly interest options.
The Tax-free rate is the contractual rate of interest payable where interest is exempt from income tax.
Cash Individual Savings Accounts (ISAs) and Cash Child Trust Fund accounts pay interest tax-free provided all terms and conditions of the account are met. On all other accounts, interest will be paid at the net rate after the appropriate rate of income tax (currently 20%) has been deducted, or gross on receipt of the required declaration form. Where interest is paid net, the income tax may be reclaimed if the amount deducted exceeds the investor's tax liability. Higher rate taxpayers will have to pay the extra due (the difference between tax deducted at 20% and the higher rate of 40%).
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 S.7(2) ICTA 1988 set the excess off against its corporation tax liability or where the amount of its corporation tax liability is less claim a repayment.
Tax treatment or the rate of interest payable depends on your individual circumstances and may be subject to change in the future. Net rates are illustrative only and have been rounded to two decimal places.
Variable interest rates
When we change interest rates we will display the latest rates, within three days of the change, on this website. We will also advertise the new rates in at least two local newspapers (usually Cambridge Evening News and Weekly News) and by placing notices in our branches.
We calculate interest on the balance of your account at the end of each day. You earn interest from the day you pay funds in to your account in cash, by cheque or transfer, until the day before you withdraw your funds.
We require at least four working days before cheques paid into your account can be drawn against.