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Everyday e-Saver (Issue 1)

The Everyday e-Saver (Issue 1) offers you easy online access to your savings, allowing you to put money in when you want and take money out when you need it.

About the account

About the account

The information below will give you an overview of the account, but please read the terms and conditions for all the details.

Summary box

Account name

Everyday e-Saver (Issue 1)

What is the interest rate?
Interest Minimum investment
Gross/AER p.a. %
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The Gross rate is the contractual rate of interest payable before deduction of income tax at the rate specified by law.

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 monthly interest accounts

Annual £100+ 0.50
Monthly £100+ 0.50

Interest rates are variable.

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

Annual interest is paid on 31st December. Monthly interest is paid on the last day of each month.

Can The Cambridge change the interest rate?

We may change interest rates at any time if we reasonably believe that the change is needed. For full details on how we can change interest rates and the notice we will give you, please see Condition 10 of our 'Terms and Conditions for Savers'.

Terms and Conditions for Savers

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

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

Deposit
Gross/AER p.a. %
Close

The Gross rate is the contractual rate of interest payable before deduction of income tax at the rate specified by law.

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 monthly interest accounts

Estimated balance after 12 months
£1,000 0.50 £1,005.00
How do I open and manage my account?

You can open and manage your account online through our website cambridgebs.co.uk.

You can add to the balance of your account at any time, deposits into the account can be made online via debit card payment or electronic transfer.

Open with £100 and invest up to £1,000,000.

The overall maximum holding by any one person in respect of all accounts with The Cambridge is £1,000,000.

Can I withdraw money?

By logging into your account via our website you can withdraw cleared funds at any time without giving notice or paying a fee. You can transfer funds via electronic transfer (Faster Payments) to your Nominated Account or payees.

You can withdraw a maximum of £50,000 per day to your Nominated Account and your payees have a maximum payment limit of £5,000 per day.

Additional information

Tax
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.

Third party operation
Please be aware that our online savings accounts are not suitable for Power of Attorney or third party operation.

Apply now

Apply now

The Everyday e-Saver is exclusively available to open online, meaning there are no paper forms to complete and sign.

Terms and Conditions

Before choosing this account, please read all the terms and conditions.

If you do not understand any point, please call us on 0345 601 4021 for further information.

Everyday e-Saver (Issue 1) product information and special terms and conditions

Terms and Conditions for Savers


Verifying your identity

When applying for an account we will need to verify your identity. We normally use an electronic verification system to verify the identity of the account holder(s) but there may be occasions where we may need to ask you for further proof of your identity. Our Verifying your identity page includes our requirements if further proof is needed.


Financial Services Compensation Scheme (FSCS)

We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a building society is unable to meet its financial obligations.

It's important that you read the FSCS Information Sheet. It provides basic information about the protection of your savings deposits.

FSCS Information Sheet


Apply now
With the Everyday e-Saver (Issue 1) you can choose between having interest paid on an annual or monthly basis - monthly interest must be paid into a different account.

Everyday e-Saver (Issue 1) Annual Interest

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Everyday e-Saver (Issue 1) Monthly Interest

Apply online 

 


More information