Coventry holds 50 Plus eSave rate
Thursday, 06 Dec 2007 17:33
Coventry Building Society is to hold the interest rate on its 50 Plus eSave account, despite the Bank of England cutting the base rate.
The account – open only to the over 50s – offers 6.40 per cent (AER/gross pa) on balances between £1 and £250,000.
It also offers unlimited penalty-free access to funds.
Rachel Haworth, head of marketing at the Coventry, said: "With many commentators predicting further interest rate reductions in 2008, now is the time to fix and fix high. With customers benefiting from unlimited penalty free access, Coventry’s 50 Plus eSave is simple, flexible and fantastic value.
"But as with Christmas, it won’t be around all year. Savers should get in quick to take advantage of this great fixed deal with a rate nearly one per cent above base."
The net equivalent pa on the 50 Plus eSave is 5.12 per cent with annual interest.