The Cambridge relaunches and increases rates on Children’s and Business Bonds

February 18, 2022

The Cambridge Building Society has increased interest rates on its relaunched three Year Fixed Rate Children’s Bond and one Year Fixed Rate Business Bond.

The Society has also made the Bonds available to new customers.

The Society’s three Year Fixed Rate Children’s Bond goes up from 1.10 per cent previously to 1.50 per cent and is available to new and existing customers, for children up to the age of 15.

The one Year Fixed Rate Business Bond’s interest rate increases to 0.85 per cent from 0.50 per cent for new and existing customers. Previously the product was for existing customers with maturating accounts only. Both come into force on Thursday 10 February.

The Cambridge’s Head of Customer Engagement, Andy Jukes, said: “Our Fixed Rate Children’s Bond is one of the few available and has previously proved popular with our members. We wanted to help more people benefit by opening it up to new customers, as well as our existing members. And the new rate is also great news.

“And we’re also delighted to relaunch our Business Bond to new and existing customers. We constantly look for ways to help customers with their savings and we feel sure these two products will prove attractive.”

The Children’s Bond requires an opening deposit of between £1,000 and £20,000. The Business Bond is available on opening deposits of between £1,000 and £2.5m. No withdrawals are permitted during the terms.