Coventry Building Society will apply the full 0.25% Bank of England base rate rise to all variable rate savings accounts.
The Coventry will also apply the 0.25% base rate increase to applicable variable rate mortgages.
Mark Parsons, Chief Executive of Coventry Building Society, commented: “Savers have borne the brunt of difficult economic conditions for 10 years, so we’re delighted to apply the full base rate increase to all savers’ variable rate accounts”.
“We’re proud of our reputation for treating savers fairly and our track record of paying higher than average savings rates. We recognise that our members need clarity and our announcement today is part of our simple and open approach to financial services.”