UK Money News
1st April 2008
The Coventry announces new cash Isa
The Coventry Building Society has confirmed the release of a new cash independent savings account (Isa).
Under the terms of the investment, as of April 6th savers can benefit from a fixed rate of six per cent until May 31st 2009.
Savers will also be able to conduct any business relating to the account at branches of Coventry or online and over the telephone.
Entry conditions are that savers must deposit £3,600 - the increased full cash Isa allowance for the new tax year following government reforms intended to encourage more consumers to save.
Rachel Haworth, head of marketing at the Coventry said the company was targeting savers seeking the peace of mind that a fixed rate cash Isa offers in the current economic climate.
She continued: "The new account will be ideal for customers who prefer the certainty of a fixed rate in a falling rate environment and who are prepared to tie up their funds for one year."
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