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.
Do you want a competitive rate of tax-free interest? Can you put away a lump sum until the end of 30 November 2023?
(Fixed until 30.11.2023)
The interest rate is fixed until 30 November 2023.
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 2023.
This would be your balance after 62 months if £1,000 was paid in on 1 October 2018, interest is paid back into the account and no other money was taken out or paid in.
How to open and manage
How to pay in
You may pay in up to your annual ISA allowance for the 2018/2019 (£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
After the 14 day ‘cooling off period’, you can’t make partial withdrawals before 30 November 2023.
If you close or transfer the ISA before 30 November.2023, we make a charge equivalent to 180 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 2023.
We’ll write to you at least 14 days before the account matures with details of how you can re-invest your savings with us, withdraw some or all of your money or arrange an ISA transfer out of the account. There’ll be a default option – another ISA with us. The term will be no longer and your withdrawal options will be no more restrictive than those offered by your original account.
At maturity, unless you have asked us otherwise, the money in this account will be automatically re-invested into the default option. However, you’ll have the option to withdraw from or close your new ISA, without incurring a charge within 21 days following maturity.
Fixed Rate ISA (69) 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 (69) and our General Terms and Conditions.
How to keep track of your account
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.
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 cancellation period after you make your first payment into a Fixed Rate ISA (69). If you wish, you may change your mind and close the ISA 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: Head Office, Economic House, PO Box 9, High Street, Coventry, CV1 5QN.
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.
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.