Coventry Building Society sharpens up its savings

Transcription

1 13 April 2018 Coventry Building Society sharpens up its savings Coventry Building Society is enhancing some of its most popular savings accounts. The changes will be: 30 Day Notice ISA (5) to allow transfers of previous years ISA subscriptions The 30 Day Notice ISA from Coventry Building Society, which pays a competitive 1.25% Tax-free p.a./aer, with a minimum balance of 1, will now allow transfers of previous years ISA funds. Easy Access ISA (7) Rate increase from 1.00% to 1.15% The rate has increased for the Easy Access ISA (7) from 1.00% to 1.15% Tax-free p.a./aer, with a minimum balance of 1. Customers can transfer in previous years ISA funds into this competitive product, and can also pay in their ISA allowances for both this and future tax years. Easy Access Saver (5) Rate increase from 0.90% to 1.00% The rate has increased for the Easy Access Saver (5) from 0.90% to 1.00% AER/gross p.a. All of these accounts can be operated in branch (passbook versions only), by telephone, post, or online. Ian Biggs, Senior Product Manager at Coventry Building Society, said: We strive to offer good value products to both new and existing members, which is why we ve chosen to enhance some of our existing products. Both our Easy Access ISA (7) and 30 Day Notice ISA (5) offer competitive interest rates and a home for current, future and previous years ISA savings. Offering competitive products such as these, combined with our excellent service, is why we are once again a Which? recommended provider for savings. Customers can apply by calling the Customer Service Centre on , visiting any branch of the Coventry or online at thecoventry.co.uk Notes for Editors Coventry Building Society

2 Coventry Building Society is the UK s second largest building society and a top ten UK savings and mortgage provider, with assets exceeding 42 billion and over 1.8 million members. Our savings rates are amongst the highest in the market our average weighted savings rate over 2017 was 1.49% compared to a market average of 0.63%. The Society is a Which? recommended provider for savings and is ranked number one for savings by Fairer Finance based on trust, customer happiness, complaint handling and transparency. Coventry Building Society is committed to making financial services simple and open for its members. Its website allows savers to compare the Coventry s savings accounts with similar products across the whole of the market the only major UK savings provider to do so. The Customer Service Centre is open Monday to Friday 8am 8pm, Saturday 9am 5pm and Sunday 10am 4pm. Telephone self-service is available 24 hours a day, 365 days a year. To maintain a quality service, calls made to and from the Society may be monitored and recorded. ISAs are a savings scheme initiated by the Government and are subject to change by them. For example, the favourable tax treatment may not be maintained. Cash ISAs allow you to save tax-free, so your interest is paid without tax deducted. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year. Information correct at time of sending. Please note that if you deposit into your new Cash ISA in the 2018/19 tax year you will not be able to subscribe to another Cash ISA in the same tax year. You must not subscribe more than 20,000 in total to ISAs in the 2018/19 tax year.

3 30 Day Notice ISA (5) Annual (only) Balance Tax-free p.a. /AER Net p.a. 1 plus 1.25% N/A Deposits of current, future and/or previous years ISA funds are accepted. Withdrawals are subject to either 30 days' notice or a charge equal to 30 days' interest on the amount withdrawn. Interest paid annually on the anniversary of account opening (added or paid away). o ISA transfer

4 Easy Access ISA (7) Annual interest (variable) Balance Tax-free p.a. /AER Net p.a. 1 plus 1.15% N/A Passbook and statement versions available. Deposits of current, future and/or previous years ISA funds are accepted. Interest paid annually on 31 March (added or paid away). o ISA transfer

5 Easy Access Saver (5) Annual (only) Balance AER/gross p.a. Net p.a. 1 plus 1.00% N/A Passbook and statement versions available. Interest paid annually on the anniversary of account opening, or monthly at the end of the last day of each month (added or paid away).