Coventry 4.1% bond (3yrs)

edda

Coventry Building Society has a members bond out:

http://www.coventrybuildingsociety.co.uk/savings/anniversarybond.aspx

You have to have been a member for 5 years and it's fixed until 30th April 2012. Investment is limited to £5,000 or £10,000 for a joint account. Interest can be taken out monthly.

Personally, I wouldn't fix at this rate for that long - but it might appeal to some.

dosh37

I discovered this offer today after applying online for their 1 year fixed rate bond at 3.75%.
Although I would be eligible, and the 4.1% rate is not bad in the current climate, I don't think I want to tie up my money for 3 years.
The maximum investment of £5000 is somewhat limiting in any case.
Hopefully things will improve in a couple of years and when it does I would like to be in a position to move house once the property market has bottomed out.

alanq

Your money would not be locked away for 3 years. Access is available instantly with 90 days loss of interest OR at 90 days notice with no loss of interest. Seems a good deal to me. If interest rates elsewhere stay low one has a good rate of interest. If interest rates elsewhere go up one can withdraw. It's a pity that only £5000 is allowed but every little helps.

dosh37

Thanks alanq - I failed to spot the 'no loss of interest at 90 days notice'. :T
In that case I may go ahead and open an account. :j