UK Money News
25th April 2008
The Coventry re-launches online account for over-50s
The Coventry has re-launched its fixed rate online savings account to target savers over 50 who are seeking to mitigate the impact on their returns of the projected cuts to the key base of interest.
Available from today, the 50 Plus eSave account offers a rate of 5.80 per cent which is fixed for 12 months after the account is opened.
The account also offers savers unlimited, penalty-free access as well as the convenience of being able to manage their finances online.
Rachel Haworth, head of marketing at the Coventry, said: "With three base rate reductions in the past five months, and with many commentators expecting even further cuts, savers should guarantee their return with 50 Plus eSave.
"With a rate fixed at 0.80 per cent above the current Bank of England Base Rate, customers also benefit from the flexibility of unlimited deposits and penalty free withdrawals."
Management of the account is conducted online with a minimum deposit of £1.
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