The Coventry Building Society 1st Class Postal savings account fourth issue has been launched with a market leading interest rate.
For savers looking to invest money this year, this savings account offers the flexibility of easy postal access. Up to 4 penalty-free withdrawals can be made a year. Any additional withdrawals are subject to a charge equal to 50 days’ interest on the amount withdrawn.
The interest rate is 3.15% AER/Gross p.a. which includes a 1.15% AER bonus during the first year of investment.
The minimum investment is £1,000 and the maximum £250,000. Deposits can be made by cheque, BACS, standing order or internal transfer.
Rachel Haworth, Head of Marketing at the Coventry, said: “Our 1st Class Postal is the perfect solution, and this latest issue has been accredited with a Five Star rating from Moneyfacts. We predict it will be very popular so savers should act quickly to avoid missing out.”
Customers can apply at a branch, via the phone or online on the Coventry website.