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If you've been looking for an online savings account that pays a competitive rate of interest with easy access, then the Online Saver (5) may be for you.

the Online Saver

Our Online Saver (5) is an easy access savings account with a competitive rate of interest.

  • 1.60% AER*/gross p.a. (variable)
  • Invest between £1 and £250,000
  • Monthly or annual interest
  • View balance and transactions online 24/7
  • 4 withdrawals available without charge each year
  • Further withdrawals are subject to a charge equal to 50 days' interest on the amount withdrawn
  • The balance above £250,000 will earn a variable rate, currently 0.50% AER/gross p.a.*(for annual and monthly interest). This lower rate also applies where interest is paid and credited to your account, and in doing so, your balance exceeds the maximum balance of £250,000.
  • If you have ever opened an Online Saver (2), Online Saver (3), or Online Saver (4), you are not permitted to open an Online Saver (5). You may only ever open one Online Saver (5), either solely or jointly. However many issues of the Online Saver account there may be, you cannot open more than one.
Account summary
*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year. The gross rate is the interest rate payable before the deduction of tax.

^Interest on ISAs is paid tax-free, that is gross with no tax deducted.

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If you already use Online Services, we'll usually open your account straightaway
We listen to our members and act on what they say - See all our Member First Principles
Protecting your money - find out more here
Your eligible deposits with Coventry Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UKs deposit protection scheme.

Any deposits you hold above the £85,000 limit are not covered.

Further information is available here or visit www.fscs.org.uk.

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Coventry Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (firm reference number 150892 www.fca.org.uk). This site is intended for UK residents only. Coventry Building Society. Registered Office: Economic House, PO Box 9, High Street, Coventry, CV1 5QN.

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