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 Fixed Rate ISA (49) 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.
Do you want a competitive rate of tax-free interest? Can you put away a lump sum until the end of 30.11.2022?
We’ve designed this ISA for your 2017/2018 annual ISA allowance and/or some or all of your previous years’ ISA savings.
(Fixed until 30.11.2022)
The interest rate is fixed until 30 November 2022.
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 2022.
This would be your balance after 61 months if £1,000 was paid in on 1 November 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
How to pay in
You may pay in up to your annual ISA allowance for the 2017/2018 (£20,000) tax year.
You won’t be able to pay in more money in future tax years.
You may pay in up to your annual ISA allowance depending on any money you may have already paid into other types of ISA (e.g. stocks and shares).
You cannot make partial withdrawals
What happens when the ISA matures
Fixed Rate ISA (49) 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 (49) 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 (49). 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.