Regular Saver Account (Issue 3) Ex/C - Cumberland

Regular Saver Account (Issue 3) Ex/C

Cumberland
2.55 % AER
Headline Interest Rate
Regular Saver
FSCS
Compensation Scheme
£ 25 min monthly deposit
£ 250 max monthly deposit
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About the account

Account Type: Regular Saver
Headline Interest Rate: 2.55 % AER
Protection Scheme: This account is covered by the Financial Services Compensation Scheme.
Minimum Initial Deposit: £ 25
Minimum Monthly Deposit: £ 25
Maximum Monthly Deposit: £ 250
What happens if you miss a payment: To achieve the interest rate shown , only one withdrawal per year can be made. and 11 out of 12 monthly payments must be made per subscription year. If more than one withdrawal is made the interest rate will be reduced by 1.95%.
Date account was introduced: 28 Jul 2016
Date of last rate changed: 28 Jul 2016
Maximum rate change: 0.25 %

Rate details

Gross Rate
Excluding Bonus
Gross Rate
Including Bonus
AER
£252.55%2.55%2.55%

Account access

Open account byManage account by
Bank
Post
Phone
Internet
Interest Payment Option
Interest Added to Account
Interest Paid to Other A/c
Interest Paid to Bank A/c
Interest Paid by Cheque
Interest Payment Frequency: annually
Statement Frequency: monthly
Additional Deposits: Not allowed
Standing Orders: Not allowed
Passbook: Passbook available.

Withdrawals

Withdrawal Conditions: To achieve the interest rate shown , only one withdrawal per year can be made without penalty, and 11 out of 12 monthly payments must be made per subscription year. If more than one withdrawal is made the interest rate will be reduced by 1.95%. Withdrawals of up to £500 in cash , or up to £10,000 by cheque from any Cumberland Branch.
Minimum Withdrawal: £ 1
Notice and Penalty Charge: To achieve the interest rate shown , only one withdrawal per year can be made without penalty, and 11 out of 12 monthly payments must be made per subscription year. If more than one withdrawal is made the interest rate will be reduced by 1.95%.
Free Withdrawal Conditions: Only one withdrawal per year can be made without penalty, and 11 out of 12 monthly payments must be made per subscription year. If more than one withdrawal is made the interest rate will be reduced by 1.95%.

Conditions

Existing Customer: Customers must have an existing current account upon account opening.
Area Restrictions: New accounts only available to people living in Cumbria, Dumfriesshire, Preston area of North Lancashire and Haltwhistle area of Northumberland. Customers must have a Cumberland current account.
Additional Subscriptions Permitted: This account does not let you transfer ISA savings from a deceased spouse

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