Coventry Savings Guide
If you want to save money but can’t afford to tie up your savings into a long-term savings account, then an easy access savings account is probably best for you. With an easy access savings account there are no penalties for making withdrawals. You can also top up your balance as and when you want to.
If you want to save for the longer term, you may want to consider one of Coventry’s fixed rate bonds. Fixed rate bonds generally offer higher interest rates than easy access accounts but your money is tied up for the duration of the bond.
You should try to use up your tax-free savings allowance first though with a cash ISA. Again, you can choose between a fixed or easy access variable rate account.
If you're an existing member of The Coventry, you may qualify for one of its exclusive member accounts which offer a more competitive rate than their ‘open to all’ accounts.
Always make sure that you weigh up the advantages and disadvantages of the different Coventry savings accounts – and compare them to the wider savings market – before you make a decision about where to save.
The first £85,000 of any savings held with the Coventry is protected by the Financial Services Compensation Scheme (FSCS).