Banking/Savings Section

Coventry Building Society Offers a Great Savings Deal at 5.15%

August 2005

The Coventry Building Society has introduced an 18 month bond yielding a nice 5.15% per annum.

Terms are pretty simple;

• Minimum £1,000
• Maximum £250,000
• Matures 31 January 2007
• Withdrawls can occur but with a 90 day interest penalty

It's certainly a good deal especially as interest rates have just been lowered with more cuts expected. 5.15% can most probably be beaten with internet saving accounts but only with extra interest rate bonuses which expire usually after 6-12 months.

The main selling point on the Coventry bond is therefore the guaranteed fixed rate.

Summary

They say that today's market is for borrowers with savers getting the thin end. But this simple 18 month from Coventry paying a fixed 5.15% proves that there's always good value somewhere in the marketplace.

See Also

• Emergency Funds - Why you should have one
• Time to dump ING Direct
• Find's List of Banking Links