CHANGE OF INTEREST RATES NOTICE TO SAVERS With effect from 28th March 2013 interest rates for savers will change as follows: Current Rates
Account
NEW RATES
Minimum
Gross
AER
Net
Gross
AER
Net
Investment
p.a. %
%
p.a. %
p.a. %
%
p.a. %
£1,000+ £10,000+ £50,000+
1.25% 1.50% 1.75%
1.25% 1.50% 1.75%
1.00% 1.20% 1.40%
1.00% 1.25% 1.50%
1.00% 1.25% 1.50%
0.80% 1.00% 1.20%
30 Day Notice (Monthly Interest)
£1,000+ £10,000+ £50,000+
1.20% 1.40% 1.65%
1.21% 1.41% 1.66%
0.96% 1.12% 1.32%
0.95% 1.15% 1.40%
0.95% 1.16% 1.41%
0.76% 0.92% 1.12%
Members Notice ISA (Issue 3)
£500+ £10,000+
1.50% 2.00%
1.50% 2.00%
(tax-free) (tax-free)
1.25% 1.65%
1.25% 1.65%
(tax-free) (tax-free)
Available to new savers 30 Day Notice (Annual Interest)
No longer available to new savers 90 Day Notice (Annual Interest)
£10,000+ £25,000+ £50,000+ £100,000+
1.80% 2.00% 2.10% 2.20%
1.80% 2.00% 2.10% 2.20%
1.44% 1.60% 1.68% 1.76%
1.55% 1.75% 1.85% 1.95%
1.55% 1.75% 1.85% 1.95%
1.24% 1.40% 1.48% 1.56%
90 Day Notice (Monthly Interest)
£10,000+ £25,000+ £50,000+ £100,000+
1.75% 1.90% 2.00% 2.10%
1.76% 1.92% 2.02% 2.12%
1.40% 1.52% 1.60% 1.68%
1.50% 1.65% 1.75% 1.85%
1.51% 1.66% 1.76% 1.87%
1.20% 1.32% 1.40% 1.48%
Deposit 90 Day Notice
£10,000+ £25,000+ £50,000+ £100,000+
2.00% 2.20% 2.30% 2.40%
2.00% 2.20% 2.30% 2.40%
1.60% 1.76% 1.84% 1.92%
1.55% 1.75% 1.85% 1.95%
1.55% 1.75% 1.85% 1.95%
1.24% 1.40% 1.48% 1.56%
Members Notice ISA (Issue 1)
£500+ £20,000+ £25,000+
1.90% 2.10% 2.60%
1.90% 2.10% 2.60%
(tax-free) (tax-free) (tax-free)
1.65% 1.85% 2.35%
1.65% 1.85% 2.35%
(tax-free) (tax-free) (tax-free)
60 Day Notice ISA
£500+ £20,000+ £25,000+
1.90% 2.10% 2.60%
1.90% 2.10% 2.60%
(tax-free) (tax-free) (tax-free)
1.65% 1.85% 2.35%
1.65% 1.85% 2.35%
(tax-free) (tax-free) (tax-free)
e-Saver (Annual Interest)
£1+
1.75%
1.75%
1.40%
1.50%
1.50%
1.20%
e-Saver (Monthly Interest)
£1+
1.75%
1.76%
1.40%
1.50%
1.51%
1.20%
e-Saver Issue 2 (Annual Interest)
£1+
1.75%
1.75%
1.40%
1.50%
1.50%
1.20%
e-Saver Issue 2 (Monthly Interest)
£1+
1.75%
1.76%
1.40%
1.50%
1.51%
1.20%
e-Saver Issue 3 (Annual Interest)
£1+
1.75%
1.75%
1.40%
1.50%
1.50%
1.20%
e-Saver Issue 3 (Monthly Interest)
£1+
1.75%
1.76%
1.40%
1.50%
1.51%
1.20%
e-Saver Issue 4 Including Bonus* (Annual Interest)
£1+
2.75%
2.75%
2.20%
2.50%
2.50%
2.00%
e-Saver Issue 4 Excluding Bonus* (Annual Interest)
£1+
1.75%
1.75%
1.40%
1.50%
1.50%
1.20%
e-Saver Issue 4 Including Bonus* (Monthly Interest)
£1+
2.75%
2.78%
2.20%
2.50%
2.53%
2.00%
e-Saver Issue 4 Excluding Bonus* (Monthly Interest)
£1+
1.75%
1.76%
1.40%
1.50%
1.51%
1.20%
e-Saver Issue 5 (Annual Interest)
£1+
2.55%
2.55%
2.04%
2.30%
2.30%
1.84%
e-Saver Issue 5 (Monthly Interest)
£1+
2.55%
2.58%
2.04%
2.30%
2.32%
1.84%
e-Saver Issue 6 (Annual Interest)
£1+
2.35%
2.35%
1.88%
2.10%
2.10%
1.68%
e-Saver Issue 6 (Monthly Interest)
£1+
2.35%
2.38%
1.88%
2.10%
2.12%
1.68%
e-Saver Issue 7 (Annual Interest)
£1+
1.75%
1.75%
1.40%
1.50%
1.50%
1.20%
e-Saver Issue 7 (Monthly Interest)
£1+
1.75%
1.76%
1.40%
1.50%
1.51%
1.20%
e-ISA Issue 1
£1+
2.55%
2.55%
(tax-free)
2.30%
2.30%
(tax-free)
e-ISA Issue 2
£1+
2.35%
2.35%
(tax-free)
2.10%
2.10%
(tax-free)
e-Maturity Account (Annual Interest)
£1+
1.75%
1.75%
1.40%
1.50%
1.50%
1.20%
e-Maturity Account (Monthly Interest)
£1+
1.75%
1.76%
1.40%
1.50%
1.51%
1.20%
*In addition to the variable interest rate payable, the e-Saver Issue 4 account earns an introductory bonus of 1.00% Gross p.a./AER during the first year from the date it was opened. The Gross rate is the contractual rate of interest payable before deduction of income tax at the rate specified by law (currently 20%). The Net rate is the rate paid after income tax has been deducted (currently 20%). The Annual Equivalent Rate (AER) is a notional rate which illustrates what the gross interest rate would be if interest was paid and added to the account annually. AERs on an account which pays monthly interest assumes interest is added to the account at the end of each month during the year. In practice, the option to have interest added in this way is not available on our monthly interest options. The Tax-free rate is the contractual rate of interest payable where interest is exempt from income tax. All the above rates are variable. Cash Individual Savings Accounts (ISAs) pay interest tax-free provided all terms and conditions of the account types are met. On all other accounts, interest will be paid at the net rate after the appropriate rate of income tax (currently 20%) has been deducted, or gross on receipt of the required declaration form. Where interest is paid net, the income tax may be reclaimed if the amount deducted exceeds the saver’s tax liability. Higher rate taxpayers will have to pay the extra due (the difference between tax deducted at 20% and the higher/additional rate). Tax treatment and rate of interest payable will depend on individual circumstances and may change in the future. Net rates are illustrative only and have been rounded to two decimal places. Unless otherwise stated, interest is paid annually. Annual interest is paid on 31st December. Monthly interest is paid on the last day of each month. If you have any queries about this rate change, please ask in branch or call 0845 601 3344 The Cambridge Building Society Head Office Administration Centre, PO Box 232, 51 Newmarket Road, Cambridge, CB5 8FF