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.
The Financial Conduct Authority is a financial services regulator. It requires us, Coventry Building Society, to give you this important information to help you decide whether our Easy Access ISA (6) is right for you. You should read the below carefully so that you understand what you’re buying, and then keep it safe for future reference.
Do you want a competitive tax-free rate of interest and easy access to your money? We’ve designed this straightforward flexible cash ISA for your tax-free savings allowance for this tax year, future tax years, and/or some or all of your previous years' ISA savings. You can choose to have a statement or a passbook to record transactions.
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.
From 1 December 2017, the variable interest rate on this account will increase to 1.30% tax-free p.a./AER.
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.
This illustration is calculated based on a variable interest rate of 1.30% tax-free p.a./AER, which is the interest rate effective from 1 December 2017.
How to open and manage
How to pay in
This is an easy access flexible ISA, so you can take money out at any time.
How to withdraw
^ 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 (6) 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 (6).
If you change your mind
You have a 14 day cancellation period after you make your first payment into an Easy Access ISA (6). 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.
If you're not happy with our service
Please let us know. We sort out most problems fairly and quickly. 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.
Coventry Building Society is not responsible for the accuracy of the data. This tool doesn't provide any recommendation or advice. Full terms and conditions relating to each product listed are available from the relevant provider. We don't receive a commission, incentive or other form of remuneration from Moneyfacts or any other provider.