Cambridge supports savers with double product launch and rate increases

August 14, 2023

The Cambridge Building Society has launched a new two Year Fixed Rate ISA and a new two Year Fixed Rate Bond.

The two Year Fixed Rate ISA offers tax free saving at a rate of 5.00% and gives new and existing customers a tax-efficient place for their savings, keeping every penny of interest earned.

New and existing customers can also take advantage of The Cambridge’s new two Year Fixed Rate Bond, which offers a savings rate of 5.85%. It allows savers to plan for the future, knowing how much their money will grow across the two years.

The Cambridge has increased interest rates on its easy access Your Saver account from 4.15% to 4.40%, and on its 100 Day Notice Account from 4.25% to 4.45%.

Base rate increases continue to improve the savings market with customers having access to more competitive rates. The Cambridge is helping its members earn more on their savings by passing on increased rates across many of its savings accounts, encouraging members to get into the savings habit.

Product Manager, Dan Barker, said: “Finding new ways to do as much as we can for our members is at the heart of everything we do. It’s a market for savers right now and we are doing our bit to help our members get a better return on their savings.

“We want to help our customers get into the habit of setting money aside for a rainy day, or for those once in a lifetime memory making moments.

“We’ve been a trusted home for people in a position to save, and reliable high street building society for more than 170 years, and we’ll continue to find innovative ways to reward our savers, especially during these challenging times.”