Coventry: New 50+ notice account
Thursday, 20 Mar 2008 16:03
Coventry Building Society is extending its over 60s notice savings account to the over 50s.
The new 50 Plus Notice account offers 6.45 per cent AER, which includes a 0.6 per cent AER bonus in the first year.
The interest rate is set to remain at least 0.25 per cent over the Bank of England base rate until March 2010.
Savers require a minimum £10,000 investment and are allowed unlimited deposits, up to a maximum of £250,000.
Penalty-free withdrawals are permitted with 60 days’ notice. Instant access is available subject to a 60 day penalty.
Rachel Haworth, head of marketing at the Coventry said: “We are pleased to extend our savings range by now offering this best buy account to the over 50s. It’s a natural addition to our successful 50 Plus eSave and Sixty-Plus accounts.
"We know that these customers are really keen on this type of account and, for those who have larger balances available and are able to put their money away for longer, this will offer them even more choice.
"And, for those customers who already have a Sixty-Plus Notice account, it is good news too, as they will also benefit from the increased rate and guarantee."