Coventry BS increases Poppy Save rate - Savings - News - Moneyfacts


Coventry BS increases Poppy Save rate

Coventry BS increases Poppy Save rate

Category: Savings

Updated: 17/06/2009
First Published: 17/06/2009

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Coventry BS has increased the rate of its Poppy Save product by 0.50%, making it the leader in its field.

The no notice savings account now offers a yearly rate of 3.00% (2.96% monthly). For each 12 month period, 0.25% of the account's balance will be donated to the Royals British Legion's Poppy Appeal.

It should be noted that the market leading rate includes a 1.00% AER bonus for the first year. Investors are able to make four penalty free withdrawals per annum, with subsequent withdrawals subject to 50 days' loss of interest.

The Poppy Save should tempt investors with its leading rate and appeal to those who are keen to recognise the sterling work of the Royal British Legion and its worthy cause.

The product has been awarded four out of five Moneyfacts stars.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Average five-year fixed bond rate falls below 2%

Long-term fixed rate bonds used to be the top solution for savers looking to get a decent return on their savings, but unfortunately, times have changed, with our latest data revealing that the average five-year rate has fallen to a new record low.

Savings rates plummet to fresh lows yet again

It’s becoming a recurring theme, and unfortunately, it’s showing no signs of stopping. Savings rates have plummeted to fresh lows once again as the impact of the base rate cut continues – and this month, product availability has followed.

Less than half of savings accounts beat inflation

Official figures show that inflation jumped up during September, with CPI rising to 1%. Not only does this mean that consumers may begin to feel the impact on their wallets, but there are now far fewer savings accounts that will beat inflation.