The new 100 Day Notice ISA account offers tax free saving at a rate of 3.70%, and the flexibility for customers to access their savings without locking their funds into long-term fixed rate savings accounts.
The Cambridge has also announced a rate increase on its easy access Your Saver account from 3.50% to 3.75% in response to the latest Bank of England base rate review.
Savings rates have been rising gradually in recent months and are at their highest rates since the start of 2009.
Product Manager, Dan Barker, said: “It’s important for us to keep finding new ways to do as much as we can for our members. Savers have started to see a better return on their savings recently and we want to continue to help those that can save, to get into the habit of setting money aside for a rainy day or a special treat.
“At our core, we’re a trusted home for people in a position to save, and we’re a well-known and reliable high street building society with 170 years history in innovation. We know it’s important for our savers to be able to come and see us in person and we value that.
“We’ve made it simple to access their accounts in branch, or if customers prefer, they can make a deposit via debit card, electronic transfer, or cheque, and either online, or over the phone.
“Given these challenging times, we felt it essential to do more to reward savers.”
