Coventry Building Society launches new ‘top rate’ account paying 5.2 per cent
Coventry Building Society has launched another new market-leading account
COVENTRY BUILDING SOCIETY
Coventry Building Society has launched a new savings account offering three charge-free withdrawals per year.
The new Triple Access Saver (Online) currently boasts a market-leading interest rate of 5.20 per cent.
It’s available to both new and existing Coventry Building Society customers.
Account holders can choose if they’d like the interest to be paid annually on the anniversary of opening the account or monthly, at the end of the last day of each month.
Coventry Building Society customers can only have one of these accounts at any time
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The interest can be added to the account or paid away, the building society said.
Savers can make three withdrawals per year based on the account opening date, although subsequent withdrawals will trigger a fee.
Should they make a fourth and any further withdrawals after that, there will be a charge equal to 50 days’ interest on the amount withdrawn.
The account can only be opened and operated online, except to make deposits.
Customers can only have one of these accounts at any time.
The account can be opened with £1 and savers can put up to £250,000 into the account.
Bethaney Cozens, Savings Product Manager at Coventry Building Society, said: “Our range of limited access saver products have been extremely popular with our members, offering fantastic value while having some flexibility to occasionally dip into their savings and access their money.
“Earlier this week, we launched a brand new online Four Access ISA at a market-leading rate, ideal for those looking for a home for their ISA allowance.
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“And today, we’ve launched another top rate limited access account which is a great option for those savers who have already reached their full ISA allowance for this tax year.
“Our new Triple Access Saver can be opened online with just £1 and has a substantial maximum balance, making it an ideal account for non-ISA savings.”
Skipton Building Society launched a new easy access Bonus Saver account yesterday, paying 5.04 per cent interest for 12 months.
Savers can put between £1 and £85,000 in the account, and the interest rate includes a 1.24 per cent uplift for the first year.