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.
The information outlined below about Fixed Bond (188) 30.04.2020 will help you compare it with other accounts and decide whether it’s right for you.
In exchange for putting away your savings until the end of April 2020, we’ll pay you a fixed rate of interest, so you’ll know exactly what you’re earning until 30 April 2020 .
(Fixed until 30.04.2020)
(Fixed until 30.04.2020)
|Balance||AER*/Gross p.a.||AER*||Gross p.a.|
The interest rate is fixed until 30 April 2020.
We calculate the interest daily and pay it annually (either into this account or to another suitable account) at the end of 30 April or monthly (to another suitable account only), at the end of the last day of each month.
The interest rate is fixed.
No matter what happens to interest rates generally, we won’t change the rate until the account matures at the end of 30 April 2020.
This would be the balance after 17 months if £1,000 was paid in on 1 December 2018, interest is added annually to the account and no other money was taken out or paid in during the year.
This illustration is just an example to help you compare accounts. It does not take into account any individual circumstances.
How to open and manage
How to put money into your account
The minimum balance is £1
The maximum balance is £250,000.
After you’ve opened the account, we won’t contact you to let you know when it closes to new investors. To find out if it’s still available, please contact us.
This is a no access account. After the 14 day ‘cooling off period’, you can’t make withdrawals (including any interest paid into the account) or close the account before 30 April 2020.
What happens when the bond's fixed period ends (matures)
We pay your interest gross. The gross rate is the interest payable before the deduction of tax.
*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.
For full details, please see the Specific Terms for Fixed Rate Bond (188) and our Saving Accounts Terms and Conditions.
How to keep track of your account
If you choose not to have a passbook, we’ll issue you with a statement within a month of any money leaving your account. But don’t worry, we’ll never send you more than one statement a month.
If you choose to have a passbook and keep it updated, this will be your record of all transactions instead of a statement. If your passbook isn’t updated, we’ll issue you with a statement within a month of any money leaving your account.
You can receive your statements by post. Or, if you use Online Services, you can go paperless and we’ll send you reminders to view your statements.
If you change your mind
You have a 14 day ‘cooling off period’ after you open a Fixed Bond (188).
If you wish, you may change your mind and take some money out, or close the bond within 14 days without notice, charge or loss of interest. To close the account, ask us at any branch, call us on 0800 121 8899 or write to us at: Head Office, Economic House, PO Box 9, High Street, Coventry CV1 5QN.
Not sure what to do?
We’re keen to help you make the right choice – have a chat with our specialists at any branch or by calling 0800 121 8899.
If you’re not happy with our service
Please let us know. We take care to deal with problems quickly, thoroughly and fairly. If you’re still not satisfied when we’ve finished our complaints procedure, you can take your complaint to the Financial Ombudsman Service. For more information about the Ombudsman Service, visit their website: financial-ombudsman.org.uk
We believe in being open and honest. We want you to make an informed choice. That’s why we've built this tool to help you compare our accounts with other providers.
This tool uses the latest data from moneyfacts.co.uk, an independent comparison service. Moneyfacts aim to include at least 95% of providers of UK-based personal savings accounts.
What’s missing? Our tool omits any accounts with special conditions for opening (for example, you have to already hold an account with the provider).
Remember: there’s more to a savings account than just the interest rate. You can compare access terms, how to pay in and other criteria – then make your own mind up.