Coventry Building Society relaunches popular savings account with ‘competitive’ 4.80 per cent interest rate

Coventry Building Society branch

Coventry Building Society has relaunched a popular savings account

Jessica Sheldon

By Jessica Sheldon

Published: 06/09/2023

- 10:03

Updated: 11/10/2023

- 17:26

Coventry Building Society said their range of limited access savings products is “really popular”

Coventry Building Society has brought back its online Four Access Saver account, paying a “competitive” rate of 4.80 per cent.

The account is available to new and existing building society members.

It offers four charge-free withdrawals per year, with the 12 months starting from the day the account is opened.

Any additional withdrawals will be subject to a charge equal to 50 days’ interest.

Cash in pictures

Coventry Building Society said the account is available to new and existing members


The Four Access Saver (Online) (2) account can be opened online with any amount from £1 up to £250,000.

Savers can choose from annual or monthly interest, which can be added to the account or paid away.

Daniel McDonald, Senior Product Savings Manager at Coventry Building Society, said: “We know our range of limited access saver products are really popular, that’s why we’re bringing back our Four Access Saver Online (2), offering members fantastic value while having some flexibility to occasionally dip into their savings.

“Whether saving small amounts or larger lump sums, the account offers a competitive rate and is also ideal for those that only take money out of their savings pots a few times a year.”

Furness Building Society launched a new triple-access savings account recently, offering a competitive interest rate of five per cent gross/AER.

Savers can open the Triple Access Saver with just £1 and deposit money into the account at any time.

Up to £250,000 can be saved in this account for individuals and the limit is £500,000 for joint accounts.

Savers are able to make up to three fee-free withdrawals within a 12-month period.

\u200bFurness Building Society in pictures

Furness Building Society has launched a new Triple Access Saver account recently


Lawrence Chan, Head of Savings Strategy at Furness Building Society, commented: “Our Triple Access Saver account provides the perfect solution for those seeking both flexibility and higher savings rates.

"It offers the same benefits as fixed savings accounts but with the added advantage of allowing up to three withdrawals per year.

“In these times of economic uncertainty and high inflation, being able to access your funds when needed can provide peace of mind. Rest assured, with our account, your money is always safe and accessible when you need it most.”

James Hyde, spokesperson for Moneyfacts, said: “Paying 5.00 per cent, it pays the market leading rate when compared to other easy access accounts currently available in the market. This product earns an Excellent rating.”

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