UK Money News
4th June 2008
The Coventry ups rates for savers over 50
Coventry Building Society has announced it is increasing the rate of interest on its online savings account for the over-50s.
As of today, the 50 Plus esave account will pay a rate of 6.25 per cent to savers for the first 12 months after the opening of the account.
Existing customers will also benefit from the increased rate for the next 12 months.
Other account features include no penalties for withdrawals, unlimited access to the account balance.
Rachel Haworth, head of marketing at the Coventry, commented: "With many commentators predicting that future base rate reductions will be delayed until later this year, we have been able to increase the rate on our popular 50 Plus eSave account now."
Savers can open the account, which is available only to consumers over 50, with a minimum deposit of £1.
The maximum sum that can be stored in the account is £250,000.
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