Instant access account
Variable interest rate of 3.80% Tax Free(1)/AER(2)
Important Information: New customers must live within our operating area to open a Savings account.
A Cash ISA savings account is just the same as its non-ISA equivalent but has a special tax status to ensure you incur no tax liability on the interest earned. You may only contribute new money to one Cumberland Cash ISA in a tax year. This does not restrict your ability to open/pay into another Cash ISA with another provider, but you will still need to remain within the annual ISA allowance across all providers for the current tax year.
You can complete an ISA transfer from existing ISA accounts into a new one. You can do this by speaking to your new ISA provider. New funds transferred using the ISA transfer process do not count towards your current year’s annual allowance.
ISA rates may differ from the rates of their non-ISA equivalent.
Although under current tax rules many savers may not have to pay tax on savings interest in non-ISA accounts, an ISA ensures that regardless of your income, total interest earned or any other relevant circumstances you incur no tax liability plus your balance is shielded in the ISA wrapper for future years.
For more information on your personal savings allowance and how your savings are taxed check out our guides.
3.80%
Cash ISA
4.15%
Cash Junior ISA
Open to customers under 18
Variable interest rate of 4.15% Tax Free(1)/AER(2)
3.80%
1 Year Fixed
Fixed Interest Fixed Term Cash ISA Account
3.80% Fixed Tax Free(3)/AER(2) until 25 November 2025
4.00%
2 Year Fixed
Fixed Interest Fixed Term Cash ISA Account
4.00% Fixed Tax Free(3)/AER(2) until 25 November 2026
3.35%
5 Year Fixed
Fixed Interest Fixed Term Cash ISA Account
3.35% Fixed Tax Free(3)/AER(2) until 25 November 2029
Summary
| Account Name | Instant Cash ISA (Issue 15) |
| What is the interest rate? | 3.80% Variable Tax Free#*/AER† Interest is calculated on a daily basis, and is paid tax free annually on 31st March. |
| Can Cumberland Building Society change the interest rate? |
Yes – The rate of interest paid on money in your account is variable and may be changed by us. Where we do so, we will give you reasonable notice in advance of the change. Examples of when changes may happen include a change in the Bank of England base rate, or market condition changes such as, general interest rates changes on similar accounts offered by other savings account providers. For further details, please read clause 8.7-8.9 in our Savings & Current Account Terms & Conditions leaflet. |
| What would the estimated balance be after 12 months based on a £1,000 deposit? | If £1,000 was deposited in the account on opening on 1 April, assuming no further deposits or withdrawals are made, on 31 March the account, including interest balance would be £1,038.00. This figure is for illustrative purposes only. |
| How do I open and manage my account? |
This account is available to open at any Cumberland branch, for customers or on internet banking for customers that hold an internet enabled current account. New customers must live within our operating area.
A minimum balance of £1 must be maintained in the account. If the account balance falls below this at any time, the account may be closed. You can pay in £20,000 each tax year, once this limit has been reached, no further payments can be accepted but the account will continue to earn interest. You can manage your account by:
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| Can I withdraw money? | Yes – This is an Instant access account, and you can withdraw up to £500 each day in cash and up to £99,999.99 by crossed cheque (cheques for larger amounts are normally available the following day), subject to the minimum operating balance of £1 being maintained. Withdrawals not permitted by direct debit, standing order, faster payments, or regular internal transfer. |
Additional Information |
No bonus payment applies to this account. This account can only be opened as a share account. For full details of our ISAs, including fixed rate products (when available), please refer to our separate leaflet, available from any branch. For full details of our Variable Rate products please refer to our separate leaflet. Download leaflet |
1. Tax free rate of interest is the rate payable, under current legislation, where interest is exempt from income tax. (Your tax benefits will be lost if your ISA ceases to be tax exempt).
2. Annual equivalent rate (AER) illustrates what the interest rate would be if interest was paid and added each year
| Account Name | Cash Junior ISA |
| What is the interest rate? | 4.15% Variable Gross Interest*/AER† Interest is calculated on a daily basis, and is paid tax free annually on 31st March. |
| Can Cumberland Building Society change the interest rate? | Yes – The rate of interest paid on money in your account is variable and may be changed by us. Where we do so, we will give you reasonable notice in advance of the change. Examples of when changes may happen include a change in the Bank of England base rate, or market condition changes such as, general interest rates changes on similar accounts offered by other savings account providers. For further details, please read clause 8.7-8.9 in our Savings & Current Account Terms & Conditions leaflet. |
| What would the estimated balance be after 12 months based on a £1,000 deposit? | If £1,000 was deposited in the account on opening on 1 April, assuming no further deposits or withdrawals are made, on 31 March the account, including interest balance would be £1041.50. This figure is for illustrative purposes only. |
| How do I open and manage my account? | This account is available to open for customers under 18 years of age who do not hold a Child Trust Fund. The account can be opened at any Cumberland branch. Only parents or guardians with parental responsibility can open the account on behalf of the child. New customers must live within our operating area.
A minimum balance of £50 must be maintained in the account. If the account balance falls below this at any time, the account may be closed. In the current tax year, you can deposit up to £9000. Once this limit has been reached, no further payments can be accepted by the account will continue to earn interest. Your allowance will refresh the following tax year.You can manage your account by:
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| Can I withdraw money? | No – withdrawals are not permitted from this account. The only exception to this is if the child becomes terminally ill or dies. On the account holder’s 18th birthday, the account will be transferred to a Cash ISA with instant access and the holder will be able to make withdrawals. |
Additional Information | No bonus payment applies to this account. Pay into the account at any time, subject to the Cash Junior ISA limit in the tax year. All payments to the Cash Junior ISA are classified as a gift to the child, and as such cannot be repaid to the subscriber if at a later date the subscriber changes their mind. This account can only be opened as a share account. For full details of our Cash Junior ISAs, including fixed rate products (when available), please refer to our separate leaflet, available from any branch. For full details of our Variable Rate products please refer to our separate leaflet. Download leaflet |
1. Tax free rate of interest is the rate payable, under current legislation, where interest is exempt from income tax. (Your tax benefits will be lost if your ISA ceases to be tax exempt).
2. Annual equivalent rate (AER) illustrates what the interest rate would be if interest was paid and added each year
| Account Name | One Year ISA Cash Fixed Term |
| What is the interest rate? | 3.80% Fixed Tax Free3/ AER2 until 25 November 2025 Interest is calculated daily and paid annually on 31 October. If the account is closed at maturity, any additional interest due will be paid at the time of closure. Interest is added to the account. Alternatively, interest can be transferred to another Cumberland account or to an account with another provider. |
| Can Cumberland Building Society change the interest rate? |
No – The rate of interest on this account is fixed and cannot be changed by us during the period of your fixed term. For further details, please read clause 8.7-8.9 in our Savings & Current Account Terms & Conditions leaflet. |
| What would the estimated balance be after 12 months based on a £1000 deposit? | Assuming no further deposits or withdrawals are made, if £1000 was deposited into the account upon opening, the account balance (including interest) would be £1,038.00 after 12 months. This figure is for illustrative purposes only. |
| How do I open and manage my account? |
This account is available to open for new and existing Cumberland customers aged 18 or over at any Cumberland branch. New customers must live within our operating area. For details of our operating area, please visit cumberland.co.uk/savings/faqs The minimum opening balance for this account is £1000. Additional subscriptions can be made into the account during the tax year (up to the maximum annual allowance of £20,000) until such a point that the specific issue is no longer on sale. At any point, and without notice, we may close a specific ISA Cash Fixed Term issue to further subscriptions, after which no new or additional subscriptions will be accepted into the account. The maximum balance for this account is £500,000. Your ISA Cash Fixed Term Account will mature at the end of the agreed investment term. Shortly before the end of the fixed term we'll contact you with details of the options available to you for your maturing account. One of these options may be to extend your investment for a further fixed term. No bonus payment applies to this account. You can manage this account by: Using the Cumberland Internet Banking service or Mobile Banking App (providing you have an internet enabled current account) or by visiting any Cumberland Branch. |
| Can I withdraw money? | No – Partial withdrawals are not permitted during the fixed term. Closures and closure transfers to another ISA provider will be subject to 90 days loss of interest. This means that where if there is insufficient interest, you may get back less than what you originally paid in. You'll be able to withdraw your investment or transfer to an alternative account without penalty on the maturity date, providing you inform us before your maturity date. If we receive no instruction on or before the maturity date, and a further ISA Cash Fixed Term Account is available, your investment will be automatically rolled over onto the available ISA Cash Fixed Term, which will subject to the Terms and Conditions applicable to the new account. Terms and Conditions for the new account will be supplied before the maturity of your existing account. It is therefore important for you to provide your instructions on or before your maturity date if you wish to make alternative arrangements. |
Additional Information |
For full details of our Fixed Rate ISA products please refer to our separate leaflet. Download leaflet |
1. Gross interest is the contractual rate of interest payable (without deduction of tax) and you will be responsible for paying any tax you owe on interest as per your individual personal savings allowance.
2. Annual equivalent rate (AER) illustrates what the interest rate would be if interest was paid and added each year
3. Tax Free rate of interest is the rate payable, under current legislation, where interest is exempt from income tax. (Your tax benefits will be lost if your ISA ceases to be tax exempt).
| Account Name | Two Year ISA Cash Fixed Term |
| What is the interest rate? | 4.00% Fixed Tax Free3/ AER2 until 25 November 2026 Interest is calculated daily and paid annually on 31 October.
If the account is closed at maturity, any additional interest due will be paid at the time of closure. Interest is added to the account. Alternatively, interest can be transferred to another Cumberland account or to an account with another provider. |
| Can Cumberland Building Society change the interest rate? |
No – The rate of interest on this account is fixed and cannot be changed by us during the period of your fixed term. For further details, please read clause 8.7-8.9 in our Savings & Current Account Terms & Conditions leaflet. |
| What would the estimated balance be after 24 months based on a £1000 deposit? | Assuming no further deposits or withdrawals are made, if £1000 was deposited into the account upon opening, the account balance (including interest) would be £1,081.60 after 24 months. This figure is for illustrative purposes only. |
| How do I open and manage my account? |
This account is available to open for new and existing Cumberland customers aged 18 or over at any Cumberland branch. New customers must live within our operating area. For details of our operating area, please visit cumberland.co.uk/savings/faqs The minimum opening balance for this account is £1000. Additional subscriptions can be made into the account during the tax year (up to the maximum annual allowance of £20,000) until such a point that the specific issue is no longer on sale. At any point, and without notice, we may close a specific ISA Cash Fixed Term issue to further subscriptions, after which no new or additional subscriptions will be accepted into the account. The maximum balance for this account is £500,000. Your ISA Cash Fixed Term Account will mature at the end of the agreed investment term. Shortly before the end of the fixed term we'll contact you with details of the options available to you for your maturing account. One of these options may be to extend your investment for a further fixed term. No bonus payment applies to this account. You can manage this account by: Using the Cumberland Internet Banking service or Mobile Banking App (providing you have an internet enabled current account) or by visiting any Cumberland Branch. |
| Can I withdraw money? | No – Partial withdrawals are not permitted during the fixed term. Closures and closure transfers to another ISA provider will be subject to 90 days loss of interest. This means that where if there is insufficient interest, you may get back less than what you originally paid in. You'll be able to withdraw your investment or transfer to an alternative account without penalty on the maturity date, providing you inform us before your maturity date. If we receive no instruction on or before the maturity date, and a further ISA Cash Fixed Term Account is available, your investment will be automatically rolled over onto the available ISA Cash Fixed Term, which will subject to the Terms and Conditions applicable to the new account. Terms and Conditions for the new account will be supplied before the maturity of your existing account. It is therefore important for you to provide your instructions on or before your maturity date if you wish to make alternative arrangements. |
Additional Information |
For full details of our Fixed Rate ISA products please refer to our separate leaflet. Download leaflet |
1. Gross interest is the contractual rate of interest payable (without deduction of tax) and you will be responsible for paying any tax you owe on interest as per your individual personal savings allowance.
2. Annual equivalent rate (AER) illustrates what the interest rate would be if interest was paid and added each year
3. Tax Free rate of interest is the rate payable, under current legislation, where interest is exempt from income tax. (Your tax benefits will be lost if your ISA ceases to be tax exempt).
| Account Name | Five Year ISA Cash Fixed Term |
| What is the interest rate? | 3.35% Fixed Tax Free3/ AER2 until 25 November 2029 Interest is calculated daily and paid annually on 31 October.
If the account is closed at maturity, any additional interest due will be paid at the time of closure. Interest is added to the account. Alternatively, interest can be transferred to another Cumberland account or to an account with another provider. |
| Can Cumberland Building Society change the interest rate? |
No – The rate of interest on this account is fixed and cannot be changed by us during the period of your fixed term. For further details, please read clause 8.7-8.9 in our Savings & Current Account Terms & Conditions leaflet. |
| What would the estimated balance be after 60 months based on a £1000 deposit? | Assuming no further deposits or withdrawals are made, if £1000 was deposited into the account upon opening, the account balance (including interest) would be £1,179.10 after 60 months. This figure is for illustrative purposes only. |
| How do I open and manage my account? |
This account is available to open for new and existing Cumberland customers aged 18 or over at any Cumberland branch. New customers must live within our operating area. For details of our operating area, please visit cumberland.co.uk/savings/faqs The minimum opening balance for this account is £1000. Additional subscriptions can be made into the account during the tax year (up to the maximum annual allowance of £20,000) until such a point that the specific issue is no longer on sale. At any point, and without notice, we may close a specific ISA Cash Fixed Term issue to further subscriptions, after which no new or additional subscriptions will be accepted into the account. The maximum balance for this account is £500,000. Your ISA Cash Fixed Term Account will mature at the end of the agreed investment term. Shortly before the end of the fixed term we'll contact you with details of the options available to you for your maturing account. One of these options may be to extend your investment for a further fixed term. No bonus payment applies to this account. You can manage this account by: Using the Cumberland Internet Banking service or Mobile Banking App (providing you have an internet enabled current account) or by visiting any Cumberland Branch. |
| Can I withdraw money? | No – Partial withdrawals are not permitted during the fixed term. Closures and closure transfers to another ISA provider will be subject to 180 days loss of interest. This means that where if there is insufficient interest, you may get back less than what you originally paid in. You'll be able to withdraw your investment or transfer to an alternative account without penalty on the maturity date, providing you inform us before your maturity date. If we receive no instruction on or before the maturity date, and a further ISA Cash Fixed Term Account is available, your investment will be automatically rolled over onto the available ISA Cash Fixed Term, which will subject to the Terms and Conditions applicable to the new account. Terms and Conditions for the new account will be supplied before the maturity of your existing account. It is therefore important for you to provide your instructions on or before your maturity date if you wish to make alternative arrangements. |
Additional Information |
For full details of our Fixed Rate ISA products please refer to our separate leaflet. Download leaflet |
1. Gross interest is the contractual rate of interest payable (without deduction of tax) and you will be responsible for paying any tax you owe on interest as per your individual personal savings allowance.
2. Annual equivalent rate (AER) illustrates what the interest rate would be if interest was paid and added each year
3. Tax Free rate of interest is the rate payable, under current legislation, where interest is exempt from income tax. (Your tax benefits will be lost if your ISA ceases to be tax exempt).
Help and advice
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Internet Banking
View your balances and transfer money between your accounts, safely and securely. Current account required.
Mobile Banking App
Use our mobile banking app to manage your money wherever you are. Current account required.
Savings FAQs
If you have any questions about your Cumberland Savings account, we hope to answer them all below.