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Market Leading 50 Plus Savings Account

Market Leading 50 Plus Savings Account

Category: Savings

Updated: 31/10/2008
First Published: 20/03/2008

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 It is now over 6 months old so the content may be out of date.

On Thursday 20 March, Coventry Building Society, the UK's fourth largest building society, will be extending its highly successful Sixty-Plus Notice account to the over 50s.

The 50 Plus Notice account will offer a market leading rate of 6.45% AER(variable/gross pa) 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 31 March 2010. Savers require a minimum £10,000 investment and are allowed unlimited deposits, up to a maximum of £250,000. Penalty-free withdrawals are permitted with 60 days' notice. Instant access is available subject to a 60 day penalty.

Rachel Haworth, Head of Marketing 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.

"We know that these customers are really keen on this type of account and, for those who have larger balances available and are able to put their money away for longer, this will offer them even more choice.

"And, for those customers who already have a Sixty-Plus Notice account, it's good news too, as they will also benefit from the increased rate and guarantee."

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 Any products featured may be withdrawn by their provider or changed at any time.

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