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.
Triple Access Saver offers a highly competitive interest rate and allows you to access your savings up to three times a year without charge. It’s designed to allow you to build up your savings and also access your money from time to time. You can manage the account easily by post, by using our online or telephone services or by popping into a branch. You can choose to have a statement or passbook to record transactions.
|Balance||AER*/Gross p.a.||AER*||Gross p.a.|
|£0.01 plus without bonus||1.15%||1.15%||1.14%|
|£0.01 plus with bonus||1.46%||1.46%||1.45%|
If you choose annual interest.
The interest rate with the bonus is currently 1.46% AER/gross p.a. This includes a 0.31% AER /gross p.a. fixed bonus until 31 March 2021 only. From 1 April 2021, the account will earn the interest rate without the bonus, currently 1.15% AER/gross p.a. variable.
If you choose monthly interest.
The interest rate with the bonus is currently 1.45% gross p.a./1.46% AER.This includes a 0.31% AER/gross p.a. fixed bonus until 31 March 2021 only. From 1 April 2021, the account will earn the interest rate without the bonus, currently 1.14% gross p.a./1.15% AER variable.
We calculate the interest daily and pay it annually at the end of 31 March, or monthly at the end of the last day of each month. Interest can be added to the account or paid into another suitable account.
The interest rate includes a fixed bonus of 0.31% AER/gross p.a. until 31 March 2021 from when the account is opened. The underlying interest rate (this is the interest rate without the bonus) is variable, so it can go up or down at any time.
From 1 April 2021, the fixed bonus period will end and your rate will change to the underlying variable interest rate (currently 1.15% AER/gross p.a. for annual interest, 1.14% gross p.a., 1.15% AER for monthly interest).
For more details about why we may change the underlying rate, as well as how and when we’ll let you know, see our Saving Accounts Terms and Conditions (section 4).
|When bonus period finishes (after 18 months)||One year later (after 30 months)|
This would be the balance when the bonus period finishes (including bonus interest) and one year later if £1,000 was paid in on 1 October 2019, all interest was paid back to the account annually, there was no change to the interest rate 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 put money into your account
You can take money out of your account up to three times a year without having to pay a charge. From the fourth withdrawal onwards, you’ll receive a charge equal to 50 days’ interest based on the amount you’re taking out. The charge will be deducted from the balance of the account, at the time of the withdrawal. Each ‘year’ in this case starts on the anniversary of the day you opened the account.
How to take money out of your account
We pay your interest gross. The gross rate is the interest payable before the deduction of tax.
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 Triple Access Saver and our Saving Accounts Terms and Conditions.
How to keep track of your account
If you choose not to have a passbook, 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.
If you choose to have a passbook and keep it updated, this will be your record of all transactions instead of a statement. If your passbook isn’t updated, we’ll issue you with a statement within a month of any money leaving your account.
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 ‘cooling off period’ after you open a Triple Access Saver. If you wish, you may change your mind and close the account within 14 days without notice, charge or loss of interest.
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.
If you’re not happy with our service
Please let us know. We take care to deal with problems quickly, thoroughly and fairly. You can ask us for a copy of our leaflet ‘What to do if you have a complaint’ which explains the steps we follow when someone reports a problem.
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.