Coventry Building Society – new fixed rate savings bonds

Coventry Building Society has launched a new range of 1, 2 and 3 year fixed rate savings bonds.

With the Bank of England base rate further cut last week to 1%, Coventry Building Society are offering competitive fixed rate savings bonds at 3.75% AER / gross p.a.

There are 3 different bonds available depending on how long you want to invest your money:

• 1 year to 28 Feb 2010, 3.75% AER / gross p.a.
• 2 year to 30 April 2011, 3.75% AER / gross p.a.
• 3 year to 30 April 2012, 3.75% AER / gross p.a.

All these savings bonds can be opened with a minimum investment of £1. The maximum amount is £250,000.

Coventry Building Society advise that there is limited availability of the bonds. Application can be made online, by telephone or at a Coventry Building Society branch.

The expectation is for the money to be left in the bond for the 1, 2 or 3 year term as selected. The money can be withdrawn, in full or part, before the end of the term but is subject to a charge of 90 days interest on the amount withdrawn.