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Easy Access ISA (5)


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Tax-free^ p.a./AER*
Variable
Our straightforward flexible cash ISA – with easy access and tax-free interest. 
FSCS logo
Your savings are protected

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.

Please click here  FSCS protect (PDF 1.2MB) for further information or visit www.fscs.org.uk.

 

 

Do you want a tax-free rate of interest and easy access to your money? We’ve designed this straightforward flexible cash ISA for all your tax-free savings: you can save up to your annual ISA allowance in this tax year and in future tax years and, if you wish, you can transfer in any previous years’ ISA savings. You can choose to have a statement or a passbook to record transactions.

The Financial Conduct Authority is a financial services regulator. It requires us, the Coventry Building Society, to give you this important information to help you decide whether our Easy Access ISA (5) is right for you. You should read this document carefully so that you understand what you’re buying, and then keep it safe for future reference.

Summary box


Account name
Easy Access ISA (5)
What is the interest rate?
  Annual interest
(Variable)
Balance Tax-free^p.a./AER*
£0.01 plus 0.90%

We calculate the interest daily  and pay it annually,  at the end of 31 March. Interest can be added to the account or paid away.

Can Coventry Building Society change the interest rate?
The interest rate is variable  so we can increase or decrease the rate at any time.

For more details about why we may change the rate, and how and when we’ll let you know about a change, see section 11 in our General Investment Terms and Conditions .
What would the estimated balance be after 12 months based on a £1,000 deposit?
£1,009.00

This would be the balance after 12 months if £1,000 was paid in on 1 April, all interest is paid back into the account, there was no change to the interest rate and no 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 do I open and manage my account?

How to open and manage

  • Online Services
  • Telephone Services
  • By post
  • At a branch (to manage your account this way, you’ll need to ask us for a passbook)

You must be aged 16 or over and a UK resident

How to pay in

  • By cash or cheque at a branch
  • Post us a cheque
  • Set up transfers from an account with another bank or building society or another Coventry Building Society account
  • By ISA transfer
    You may transfer in ISA savings from this tax year and/or previous tax years.
    If you decide to ISA transfer in money you’ve paid into an ISA in this tax year, under ISA rules, you must transfer all the deposits you’ve made this tax year.
  • The minimum balance is £1
  • You may pay in up to your annual ISA allowance each tax year depending on any money you may have already paid into a stocks and shares ISA and/or innovative finance ISA. For 2016/2017 tax year, the allowance is £15,240. For 2017/2018 tax year, the allowance is £20,000.
Can I withdraw money?

This is an easy access flexible ISA, so you can take money out at any time.

How to withdraw

  • ISA transfer to another Coventry Building Society ISA or to another ISA provider, without losing your tax-free status
  • Transfer to your nominated bank account
  • Request a transfer to another account with us
  • Request cheques by post

If you choose to have a passbook, you’ll also be able to withdraw in cash and by cheque at a branch, and transfer to any other UK-based account. 

Additional information
^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. 

This account is a limited issue account, so we may stop accepting applications at any time. 

*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 Easy Access ISA (5) and our General Investment Terms and Conditions.

A flexible ISA
This ISA is flexible so you can take money out and put it back in later, without it counting any further towards your annual ISA allowance, as long as you pay the money back in before the end of the same tax year. If you’ve created a flexible ISA allowance on another ISA, you can’t transfer this allowance to Easy Access ISA (5).

If you change your mind
You have a 14 day cancellation period after you make your first payment into an Easy Access ISA (5). If you wish, you may change your mind and close the ISA within 14 days and it will be treated as if you never had the ISA so you'd still be able to pay some/all of your annual ISA allowance into another cash ISA in this tax year.

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.

 

Ways to apply


Apply online

Apply online

Pop into your local branch

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Call us on
0800 121 8899

Compare our accounts

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.

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