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.
Do you want a competitive rate of tax-free interest? Can you put away a lump sum until the end of 30.11.2018? We’ve designed this ISA for your annual ISA allowance (for 2016/2017 and/or 2017/2018) and/or some or all of your previous years’ ISA savings.
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 Fixed Rate ISA (38) 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.
(Fixed until 30.11.2018)
The interest rate is fixed until 30.11.2018
We calculate the interest daily and pay it annually, at the end of 30 November. Interest can be added to the account or paid away.
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 November 2018.
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.
This would be your balance after 21 months if £1,000 was paid in on 1 March 2017, interest is paid back into the account and no money was taken out or paid in.
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
You must be aged 16 or over and a UK resident
How to pay in
You cannot make partial withdrawals
After the 14 day ‘cooling off period', you can’t make partial withdrawals before 30.11.2018.
If you close or transfer the ISA before 30.11.2018, we make a charge equivalent to 120 days’ interest on the account balance.
You can close the ISA by ISA transfer to another ISA with us or another provider, or by transfer to another Coventry Building Society account or your nominated bank account.
What happens when the ISA matures
This account will mature at midnight at the end of 30 November 2018.
We’ll write to you at least 14 days before this to let you know about your options.
At maturity, unless you have asked us otherwise, the money in this account will be automatically re-invested into another ISA. However, you’ll have the option to withdraw from or close your new ISA at that time.
Fixed Rate ISA (38) is not a flexible ISA
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.
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.
*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 ISA (38) and our General Investment Terms and Conditions.
If you change your mind
You have a 14 day cancellation period after you make your first payment into a Fixed Rate ISA (38). If you wish, you may change your mind and close the account within 14 days without notice, charge or loss of interest.
To do this, ask at any branch, call us on 0800 121 8899 or write to us at Oakfield House, PO Box 600, Binley Business Park, Coventry CV3 9YR.
If you do close the account within the 14 days, it will be treated as if this ISA was never opened, so you’d still be able to pay some/all of your annual ISA allowance into another cash ISA in the same tax year.
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 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.