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 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).

£1,035.00

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.

Eligibility

• You must be aged 16 or over to open this account.

How to apply for this account

• Online
  Register and use our Online Services
• Download our app
• Call us on 0800 121 8899
• Visit one of our branches
• Write to us at Oakfield House, PO Box 600, Binley, Coventry CV3 9YR.

Please note, if you would like to apply for a passbook-based version of this account, you'll need to pop into a branch or call us.

Joint accounts

If you apply for a joint account online or by phone, we'll send you an application form in the post for you to fill in and return.

How to manage and keep track of your account

• Register and use Online Services 
• Register and use our app 
• Call us on 0800 121 8899
• If you have a passbook, pop into a branch.

How to put money into your account 

• Pay in cash or cheques at a branch 
• Post us a cheque 
• Set up transfers from an account with another bank or building society or another account with us. 

The minimum balance is £1. 

The maximum balance is £1,000,000.

This is a limited access account. You can take money out of your account up to five times a year without having to pay a charge. From the sixth withdrawal onwards (which can include closure), you’ll receive a charge equal to 50 days’ interest based on the amount you’re withdrawing. The charge will be deducted from the balance of the account, at the time of the withdrawal. If you haven’t earned enough interest to cover this charge, some of it will come out of your original deposit(s). Each ‘year’ in this case starts on the anniversary of the day you opened the account.

How to take money out of your account

• Pay money to another Coventry Building Society account online, call us or pop into a branch.
• Pay money to another Coventry Building Society account in your name via our app.
• Pay money into your Named Bank Account online or via our app, call us or pop into a branch.
• Request cheques 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.

This is a limited issue account, so we may stop accepting applications at any time.

You have a 14-day 'cooling-off' period after you open a 5 Access Saver (4), where you can close your account and you won't be charged. Day 1 starts on the day after you open your account. For example, if you open your account on the 1st of the month, your cooling-off period will finish at the end of the 15th day of that month.

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

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