Help and guides for savers

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FAQs for Savers

Savings

How is interest paid on Personal Accounts

Interest on Personal Accounts is paid at the gross rate with no tax deducted.

How is interest paid on Business Accounts

Interest will be paid at the gross rate. The receipt of interest gross by a company will not prevent that interest from being liable to corporation tax. For information regarding tax or how to make a self-assessment tax return, please contact HMRC.

What happens when savings interest rates increase?

When the interest rate on your savings account increases we will places notices in our branches, on our website and in two newspapers within three working days of the change, or we'll let you know within 30 days of the change by email, letter or another form of personal notice. 

What happens when savings interest rates decrease?

The interest rate for your savings account might decrease for a number of reasons, you might have a fixed term product that is coming to an end, your rate may be variable and therefore can change at any time or it may be linked to changes in the Bank of England Base Rate. 

When the interest rate on your savings account decreases we will tell you about the change, in writing, within 14 days of the change taking place. 

Take a look at our Terms and Conditions for Savers for a more detailed explanation.

If you'd like to speak to one of the team about your savings accounts live chat with us, or call on 0345 601 3344.

What is the interest on my Savings Account?

You can view the interest on your savings account at any time online once you've registered for our online services.

Alternatively take a look at this pdf to find out the interest rate for your variable savings account where the product is no longer available. 

If you're looking for the interest rate for a savings account that is currently available take a look at our savings products here.

I've lost my passbook or security information, what should I do?

Don't worry, we've a dedicated number for our customers who've lost their passbook or security information - simply call the team on 0800 587 5295.

Find out when and how to get in touch by checking our Contact us page.

How do I pay into my savings account?

You can simply set your Cambridge savings account up with your bank so you can transfer to your savings as and when you want, the details you’ll need are:  

  • Sort Code: 20-17-55
  • Account Number: 40338346
  • Reference: This is your 10 digit Cambridge Building Society account number. You must quote this as a reference to ensure the payment reaches the Account

You could also call the team on 0345 601 3344 – they’re able to take the payment over the phone if you’d prefer.