The Cambridge e-Saver Issue 4
Features & Benefits
- Exclusively available to open online
- A straightforward online savings account that gives you the flexibility to pay money in and take it out when you want
- Open with just £1 and invest up to £1,000,000
- Get an introductory bonus during the first year
- Instant access - no notice - no penalties
- Online account management
- Interest paid annually on 31st December or monthly on the last day of the month
Product Summary
| Key Product Information for our Savings Account | |
|---|---|
| Account name | The Cambridge e-Saver Issue 4 |
| Interest rates (AERs) | Interest rates are variable. Current interest rates can be found in our 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 | In addition to the variable interest rate payable, the account will earn a fixed rate introductory bonus during the first year. |
| Withdrawal arrangements | No withdrawals allowed during the first 14 days after account opening. After this time, you can take out cleared funds from your account at any time and without interest penalty to any of your nominated accounts by electronic transfer (Faster Payments). |
| Access | Account operated online. |
Interest Rates
| The Cambridge e-Saver Issue 4 Rates effective from 22nd March 2012 |
|||||||
|---|---|---|---|---|---|---|---|
| Annual Interest | Monthly Interest | ||||||
| Minimum investment | Bonus* | Gross p.a. % | AER % | Net p.a. % | Gross p.a. % | AER % | Net p.a. % |
| £1+ | Including bonus | 2.75 | 2.75 | 2.20 | 2.75 | 2.78 | 2.20 |
| £1+ | Excluding bonus | 1.75 | 1.75 | 1.40 | 1.75 | 1.76 | 1.40 |
Interest rates are variable.
*In addition to the variable interest rate payable, the account will earn an introductory bonus of 1.00% Gross p.a./AER during the first year from the date it is opened. The bonus will be calculated on a daily basis, and will be earned on your investment in the account up to and including the day before the anniversary of the account opening, or up to and including the day before the closure of the account, whichever is earlier. The bonus will be paid at the same time as the variable interest.
Annual interest paid on 31st December. Monthly interest paid on the last day of each month. Interest can be added to your account (annual interest only), transferred to another Cambridge account or an external account with another bank or building society.
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/additional rate). 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 tell you about the new interest rates within 30 days of the change by email. We will also place a notice on our website.
When interest rates reduce, we will tell you about it at least 14 days before we make the change by email. Please refer to general term 12 of the ‘General Terms and Conditions for Online Savers' for a more detailed explanation.
Terms & Conditions
Please read all the terms and conditions before applying to open an account.
Download General Terms and Conditions for Online Savers
Download The Cambridge e-Saver Issue 4 Product Terms
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The Cambridge e-Saver is exclusively available to open online, meaning there are no paper forms to complete and sign.
You will need to verify your identity and address when you apply for an account. This may be the case if you already have an account with The Cambridge.
Please note that for security reasons, online withdrawals are not available for the first 14 days after your account has been opened.
For your own benefit and protection, you should read the "General Terms & Conditions for Online Savers" and the product terms that relate to The Cambridge e-Saver before applying to open the account.
If you do not have an online account with The Cambridge
If you already have an online account with The Cambridge
More information
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