Coventry: Online Saver at 6.51%
Friday, 16 Nov 2007 14:15
Coventry Building Society is launching an online saver account at 6.51 per cent AER/gross pa.
The account – opened and accessible only online – is at 6.51 per cent and has a 0.5 per cent bonus until December 2008. It then reverts to the Bank of England base rate until December 2009.
The maximum investment is £250,000 and the minimum needed to open an account is £1.
Withdrawals incur a charge equal to 30 days of interest on the amount withdrawn, not the whole balance. Unlimited withdrawals are allowed.
Rachel Haworth, head of marketing at Coventry, said: "This new account is ideal for disciplined savers who don’t dip in and out of their savings, but still want the reassurance of easy access 'just in case'.
"Online Saver combines a market leading rate of interest, backed by a long-term guarantee, with the convenience of online operation. In short, an account with highly competitive features which mean long term benefits for our savers."