Coventry Building Society announced the launch of two new savings accounts aimed specifically at savers over the age of 60.
Following the success of the Sixty-Plus range that was launched in April, the society introduced a new Sixty-Plus Saver account that offers a highly competitive return of 5.50 per cent variable (AER/gross pa).
The rate of this savings account will equal the Bank of England (BoE) base rate until June 30th 2010 and includes an initial bonus of 0.75 per cent.
The minimum opening investment for this savings account is £500 and savers can deposit up to £2,000 a month. Savings account holders have instant access to the funds in their savings account.
The Sixty-Plus Bond for savers over the age of 60 who have larger balances and want to save money for a longer period is also available this week.
A fixed rate of 5.00 per cent is set for this savings account until July 31st 2006. Savers are offered a product guaranteed to beat BoE base rate by at least 0.25 per cent for the first four maturities.
The minimum investment for this savings bond is £1,000, with a maximum investment of £250,000.
Coventry expands Sixty-Plus savings range
Coventry expands Sixty-Plus savings range
Thu, 09 Jun 2005
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