Accounts no longer available to new savers

The Cambridge e-Saver
Rates effective from 29th March 2011
 Annual InterestMonthly Interest
Minimum investmentGross p.a.%AER%Net p.a.%Gross p.a.%AER%Net p.a.%
£1+ 1.75 1.75 1.40 1.75 1.76 1.40
  • A straightforward online savings account that gives you the flexibility to pay money in and take it out when you want
  • Minimum investment £1, maximum investment £1,000,000
  • Instant access - no notice - no penalties
  • Online account management
  • Interest paid annually on 31st December or monthly on the last day of the month

The Cambridge e-Saver Issue 2
Rates effective from 12th July 2011
  Annual InterestMonthly Interest
Minimum investmentBonus*Gross p.a.%AER%Net p.a.%Gross p.a.%AER%Net p.a.%
£1+ Including bonus 2.80 2.80 2.24 2.80 2.84 2.24
£1+ Excluding bonus 1.75 1.75 1.40 1.75 1.76 1.40
  • A straightforward online savings account that gives you the flexibility to pay money in and take it out when you want
  • Minimum investment £1, maximum investment £1,000,000
  • Instant access - no notice - no penalties
  • Online account management
  • Interest paid annually on 31st December or monthly on the last day of the month

*In addition to the variable interest rate payable, the account earns an introductory bonus of 1.05% Gross p.a./AER during the first year from the date it was opened. The bonus is calculated on a daily basis, and is earned on the 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 is paid at the same time as the variable interest.

Instant Sapphire Account
Rates effective from 3rd April 2009
Minimum investmentGross 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
  • Minimum investment £1
  • Instant access – no notice – no penalties
  • Simple to use – interest grows with your balance
  • Interest paid twice a year on 30th June and 31st December
Hallmark Account
Rates effective from 3rd April 2009
 Annual InterestMonthly Interest
Minimum investmentGross 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
  • Minimum investment £1,000 for half-yearly interest; £2,500 for monthly interest
  • Instant access – no notice – no penalties provided your balance remains £10,000 or more after the funds are withdrawn
  • For balances below £10,000 you choose between giving us 90 days’ notice of withdrawal or instant access with 90 days’ interest penalty
  • Interest paid twice a year on 30th June and 31st December, or monthly on the last day of the month
60 Day Notice Account
Rates effective from 18th June 2009
 Annual InterestMonthly Interest
Minimum investmentGross 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
  • Minimum investment £10,000, maximum investment £500,000
  • You choose between giving us 60 days’ notice of withdrawal or instant access with 60 days’ interest penalty
  • Interest paid annually on 31st December, or monthly on the last day of the month 
Millennium Account
Rates effective from 3rd April 2009
Minimum investmentGross p.a.%AER%Net p.a.%
£5,000+ 1.60 1.60 1.28
£50,000+ 1.75 1.75 1.40
  • 3 year savings term exclusive to existing members
  • Minimum investment £5,000, maximum investment £100,000
  • Withdrawals are not permitted during the three year term
  • Early closure is subject to penalty: year 1: 180 days’ interest; year 2: 120 days’ interest; year 3: 90 days’ interest
  • Interest paid annually on 31st December
60 Days' Notice Cash ISA
Rates effective 3rd April 2009
Minimum investmentTax free p.a.%AER%Non-stakeholder
£500+ 1.90 1.90 Non-stakeholder
£20,000+ 2.10 2.10 Non-stakeholder
£25,000+ 2.60 2.60 Non-stakeholder
  • Interest is paid tax-free provided the terms and conditions for ISA are met
  • Minimum investment £500
  • Maximum subscription each tax year is currently £5,340
  • You choose between giving us 60 days’ notice of withdrawal or instant access with 60 days’ interest penalty
  • Interest paid annually on 31st December
Child Trust Fund
Rates effective 3rd April 2009
Minimum investmentTax free p.a.%AER%Non-stakeholder
£1+ 2.50 2.50 Non-stakeholder
  • Open with Child Trust Fund voucher
  • Minimum deposit £1
  • Maximum annual subscription £3,600
  • Money invested belongs to the child. No access to fund until the child is 18
  • Interest paid annually the day before the child’s birthday
Business Account
Rates effective from 3rd April 2009
Minimum investmentGross p.a.%AER%Net p.a.%
£1+ 0.05 0.05 0.04
  • Minimum investment £1 
  • Instant access – no notice – no penalties
  • Interest paid twice a year on 30th June and 31st December

 

The Cambridge Easy Access Business Saver
Rates effective from 14th December 2009
Minimum investmentGross p.a.%
AER%Net p.a.%
£1,000+ 1.25 1.25 1.00
  • Minimum investment £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)
The Cambridge Notice Business Saver
Rates effective from 14th December 2009
Minimum investmentGross p.a.%AER% Net p.a.%
£5,000+ 1.50 1.50 1.20
  • Minimum investment is £5,000
  • You choose between giving us 30 days' notice of withdrawal or instant access with 30 days' interest penalty
  • Interest paid annually on 31st December
  • You can pay in one cheque per day
  • You can pay in upto £1,000 in cash per day (notes only)

 

 

The Cambridge Easy Access Council Saver
Rates effective from 25th January 2011
Minimum investmentGross p.a.%AER%
£1,000+ 1.25 1.25
  • Minimum investment is £1,000
  • Withdrawals restricted to two per calendar month, but no notice is required
  • Interest paid annually on 31st December
  • Account must be opened with a cheque from your nominated Council bank account
  • Funds can be added to the account via electronic transfer only
The Cambridge Notice Council Saver
Rates effective from 25th January 2011
Minimum investmentGross p.a.%AER%
£5,000+ 1.50 1.50
  • Minimum investment £5,000
  • You choose between giving us 30 days' notice of withdrawal or instant access with 30 days' interest penalty
  • Interest paid annually on 31st December
  • Account must be opened with a cheque from your nominated Council bank account
  • Funds can be added to the account via electronic transfer only

 

 

The Cambridge 1 Year Base Rate Tracker Bond Issue 1
Rates effective from 7th February 2011
Minimum investmentGross p.a. %AER %Net p.a. %Tracker rate
£1,000+ 2.00 2.00 1.60 BR + 1.50%
  • The interest rate tracks the Bank of England base rate, currently 0.5%, until 7th February 2012.
  • Minimum investment is £1,000
  • You cannot add to your account
  • Withdrawals are not permitted during the tracker term
  • Interest is calculated daily and is paid on the maturity date
  • The Cambridge 1 Year Base Rate Tracker Bond Issue 1 will mature on 7th February 2012

The Cambridge 2 Year Base Rate Tracker Bond Issue 2
Rates effective from 7th February 2011
Minimum investmentGross p.a. %AER %Net p.a. %Tracker rate
£1,000+ 2.25 2.25 1.80 BR + 1.75%
  • The interest rate tracks the Bank of England base rate, currently 0.5%, until 5th February 2013
  • Minimum investment is £1,000
  • You cannot add to your account
  • Withdrawals are not permitted during the tracker term
  • Interest is calculated daily and is paid on the maturity date
  • The Cambridge 1 Year Base Rate Tracker Bond Issue 2 will mature on 5th February 2013

The Cambridge 1 Year Base Rate Tracker Bond Issue 3
Rates effective from 8th July 2011
Minimum investmentGross p.a. %AER %Net p.a. %Tracker rate
£1,000+ 2.00 2.00 1.60 BR + 1.50%
  • The interest rate tracks the Bank of England base rate, currently 0.5%, until 7th February 2012
  • Minimum investment is £1,000
  • You cannot add to your account
  • Withdrawals are not permitted during the tracker term
  • Interest is calculated daily and is paid on the maturity date
  • The Cambridge 1 Year Base Rate Tracker Bond Issue 3 will mature on 7th February 2012

The Cambridge 2 Year Base Rate Tracker Bond Issue 4
Rates effective from 8th July 2011
Minimum investmentGross p.a. %AER %Net p.a. %Tracker rate
£1,000+ 2.25 2.25 1.80 BR + 1.75%
  • The interest rate tracks the Bank of England base rate, currently 0.5%, until 5th February 2013
  • Minimum investment £1,000
  • You cannot add to your account
  • Withdrawals are not permitted during the tracker term
  • Interest is calculated daily and is paid on the maturity date
  • The Cambridge 2 Year Base Rate Tracker Bond Issue 4 will mature on 5th February 2013

All the above rates are variable.

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. You can keep up to date with interest rates by calling us on 0845 601 3344 or by visiting our website.

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.

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.

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/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.

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