The Cambridge Building Society has announced the launch of a new savings account.
Your Saver comes with an interest rate of 0.75% gross/AER variable and a maximum of one withdrawal per calendar month.
The minimum deposit is £100, with the maximum set at £1m.
The savings account can be accessed via the society’s app, website, post, phone or in any of its 12 regional branches.
Andy Jukes, head of direct distribution at the Cambridge Building Society, said: “Back in the summer 2017, we launched the Cambridge Money App and today’s product launch is the next step in offering customers a wider choice in how they do business with us.
“We’ve seen a good take up of customers who want to track their savings at a time and place to suit them and my team [is] increasingly talking to customers through secure messaging as well as on the telephone and face to face.
“The Your Saver is another option for customers who choose to have multiple savings pots for different needs.”
Dan Barker, product manager at the Cambridge, added: “We know from regular feedback that the way customers want to engage with us is constantly changing and that they do not fit into a ‘one size fits all box’.
“This account gives them the flexibility of making basic transactions online at a time and place to suit them, while also having the peace of mind that they can talk to someone or get cash over the counter if they needed to.
“Although there are similar products on the market, we believe this is the first to offer savers so many options.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Metro supports business expansion with £4.5m funding package
Metro Bank has provided a £3.5m invoice finance facility and £1m asset finance line to a waste management specialist to support its expansion.
Arbuthnot Latham announces Inspiring Innovator of the Year award finalists
Arbuthnot Latham has announced the finalists for its third annual Inspiring Innovator of the Year Award.
10,500 people sign up to Coconut waiting list
Coconut has announced that 10,500 freelancers, self-employed workers and limited companies have signed up to its business current account waiting list.
Shawbrook chief executive to step down
The board of Shawbrook has announced that Steve Pateman (pictured above) will be standing down from his position as chief executive in the coming months.
Will current account complaints continue to fall?
The number of complaints the FCA receives regarding current accounts is likely to continue to decrease, an industry expert believes.
The potential and pitfalls of Open Banking
Whether banking or wealth and asset management, financial management is evolving.
Monzo joins Current Account Switch Service
Mobile-only bank Monzo has enabled customers to switch bank accounts in just a few taps.
Avoiding the ‘silo mentality’
I have just come off a complex bridging case that saw Masthaven deliver an £800,000-plus loan to help a developer complete on a site of four properties they wanted to sell on.
Metro Bank to open Bristol store
Metro Bank has announced that it plans to open a new store in central Bristol this autumn.
Alex Upton set to join Masthaven as sales director
It has been confirmed that Alex Upton (pictured above) will be leaving Castle Trust to join Masthaven to become the specialist bank’s sales director for its long-term lending division.