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The
Cambridge
Building Society
Instant
Access Reward Account
This
is an instant access (no-notice) savings account from
The Cambridge Building
Society
that requires
only £1 to open.
A
balance of at least £1 must be maintained
at all times for the account to remain
open.
The maximum balance allowed
is £1M (subject to the overall holding
limit
for
this building society i.e. the total
investment in all accounts if you have
more
than
one must not exceed £1M). Joint accounts
are also allowed.
A passbook is provided and the
account can be managed in branch or
by post. You
can
also transfer funds to your savings
account using a debit card over the
phone.
Although
the rate of interest is not very high
(which is normal for most building society
or
bank accounts) it is paid in tiers from
0.01 to 0.4% net so
the more you invest the more interest
you earn. Any
interest earned is paid annually on
December 31st.
You
must open the account at one of their
branches in the Cambridgeshire area
although
the account is available to anyone resident
in the
UK.
They
also offer a selection of other savings
accounts including online accounts,
Cash
ISAs, a notice account, various bonds,
children's accounts and accounts for
councils
and businesses.
The
Cambridge Building Society is a mutual
society that was founded
in 1850. It's
head office is
in Cambridge and it currently has 19 branches throughout
the area.
As
well as savings accounts, they also
offer mortgages, investments and insurance.
Return
to UK bank account,
prepaid credit cards or
business bank account
page.
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