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Coventry launches new savings account

Coventry Building Society has launched its new 50 Plus Notice account. The new savings account will offer a rate of 6.45% AER which includes a 0.60% AER bonus for the first year from account opening.

The AER’s are guaranteed to be at least 0.25% above the Bank of England base rate until March 31, 2010. Savers require a minimum GBP10,000 investment and are allowed unlimited deposits, up to a maximum of GBP250,000. Penalty-free withdrawals are permitted with 60 days’ notice. Instant access is available subject to a 60 day penalty.

Rachel Haworth, head of marketing department at the Coventry, said: We are pleased to extend our savings range by now offering this best buy account to the over 50s. It’s a natural addition to our successful 50 Plus eSave and Sixty-Plus accounts.