Double Access Saver

Account name

Double Access Saver

What is the interest rate?

Your interest will be paid annually, on the 31st December.

We calculate the interest on the balance of your account at the end of each day.

Can The Cambridge change the interest rate?

The Double Access Saver has a variable rate of interest which can go up or down. We may change interest rates at any time if we reasonably believe that the change is needed.

See the ‘interest’ section of Terms and Conditions for full details.

What would the estimated balance be after 12 months based on a £1,000 deposit?

The following projection assumes the account is opened on 1st January and no further deposits or withdrawals are made. Projections are for illustrative purposes only and do not take into account individual circumstances.

How do I open and manage my account?

Opening the account:

• open online, in branch, by phone, via The Cambridge Money App or via post
• the minimum amount required to open the account is £100
• invest between £100 and £2,000,000
• the overall maximum holding by any one person in respect of all accounts with The Cambridge is £2,000,000 

To open and operate the account you must supply an up-to-date mobile number and email address when you apply. If you are unable to provide these details or if this causes you any difficulties, please talk to a member of our team.

If you are opening this account as a third party, for example Power of Attorney, you’ll need to apply via branch or post.

For online applications, we require details of your nominated account.

Manage the account:

Manage your account online or via The Cambridge Money App, in branch, by phone or via post.

You can add to the balance of your account at any time via:

• Cash – branch only
• Cheque – branch and post
• Debit card – branch, online and phone
• Transfer from an existing Cambridge account
• Transfer from another bank or building society account

If you are managing this account as a third party, for example Power of Attorney, you’ll only be able to manage this account via our branches, phone or post.

Can I withdraw money?

After the first 7 days you can withdraw cleared funds from your account twice a year without giving notice or paying a fee. Any additional withdrawals made during the year will be subject to a 120 day interest penalty fee. Our normal branch limits for withdrawals are £500 in cash and up to £250,000 by cheque. Larger cheque withdrawals are available upon request. We require at least four working days before cheques paid into your account can be drawn against.

You can also transfer cleared funds via electronic transfer (Faster Payments) to your Nominated Account.

You can withdraw a maximum of £85,000 to your Nominated Account.

Additional information

No tax will be automatically deducted from the interest paid on this account.

You may need to pay tax on any interest that exceeds your Personal Savings Allowance. For more information please contact HMRC.

Tax treatment and rate of interest payable will depend on individual circumstances and may change in the future.

Products are subject to availability and may be withdrawn without notice.