On 2 August 2018, the Bank of England announced an increase in Bank Base Rate (BBR) from 0.50% to 0.75%.
We’ve reviewed our variable interest rates and will be increasing rates for some of our savings accounts and mortgages.
*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.
^Interest on ISAs is paid tax-free, that is without tax deducted. ISAs are a savings scheme initiated by the Government and are subject to change by them. For example the favourable tax treatment may not be maintained. You must be 16 or over and a resident in the UK to open a cash ISA.
Your eligible deposits with Coventry Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered.
For joint accounts eligible deposits are protected up to £170,000.