We calculate the interest daily and pay it annually, on the anniversary of the date you opened the account, or monthly, at the end of the last day of each month.

Interest can be added to the account or paid away into another suitable account.

The interest rate is variable, so it can go up or down at any time.

For more details about why we may change the rate, as well as how and when we’ll let you know, see our Saving Accounts Terms and Conditions booklet (section 4).

£1,031.00

This would be the balance after 12 months if £1,000 was paid in, all interest was paid back into 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

• Online
• Call 0800 121 8899
• By post
• Pop into a branch (to manage your account this way, you’ll need to ask us for a passbook. A passbook-based version of this account can be opened by visiting a branch)

How to put money into your account

• Pay in cash or cheques in a branch
• Post us a cheque
• Set up transfers from an account with another bank or building society or another account with us
• You must be aged 16 or over to have a statement version of this account
• The minimum balance is £1
• The maximum balance is £250,000

How to keep track of your account
 

If you don’t have a passbook (or you have one but don’t keep it updated), you’ll get a statement within a month of any money leaving your account. We won’t send more than one a month.

If you have a passbook and keep it updated, there’s no need for statements.

You can get statements by post, or go paperless if you use Online Services.

This is an easy access account. You can take money out whenever you wish.

How to take money out of your account

• Ask for a transfer to another Coventry Building Society account or to your named bank account online, by phone or by post
  
• Ask for a cheque by post
  
• If you have a passbook, you can request a transfer to another account with us or any UK-based account in branch, online by phone or by post. You can also ask for cash or cheques at any branch.
  

We pay your interest gross. The gross rate is the interest payable before the deduction of tax.

* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.