Coventry relaunches 50 Plus eSave
Wednesday, 27 Feb 2008 00:13
Coventry Building Society is relaunching its 50 Plus eSave account with a rate of 6.4 per cent (AER/gross) fixed for 12 months.
The account - exclusively for the over 50s - offers unlimited access and is operated and opened online.
The minimum investment is £1 and the maximum that can be put in is £250,000.
Interest can be paid monthly or annually and after the first year the rate drops to at least the Bank of England base rate for six months.
Rachel Haworth, head of marketing at Coventry, said: “We are pleased to re-launch our fixed rate eSave account, particularly at a time when interest rates are falling.
"The account allows customers to access their money whenever they want and, when many commentators expect interest rates to fall further, they will also benefit from a guaranteed high fixed rate."
She added: "The account has become a natural extension to our well established and popular Sixty-Plus range and further demonstrates our commitment to this group of customers. As a major UK building society we offer savers the peace of mind that their savings will be safe and I encourage them to take up this opportunity without delay."