Coventry ISAs launch

edda

Coventry Building Society has released details of new fixed rate ISAs on their website:

http://www.coventrybuildingsociety.co.uk/savings-and-investments/cash-isas.aspx

3.1% until 31st May 2012 (3.25% if member for more than 5 years)

4.15% until 31st May 2014

5% until 31st May 2016

No transfers in allowed. Tax year 2011/12 only.

mecrazybenz

Thanks for that. I have only this morning made a telephone application with Birmingham Midshires who are also doing a 5yr 5% fixed, but it is only operated via post.

The Coventry one will be a better provider for me as it can be applied for online and they have a branch in my home town too. I guess when I receive the application forms from Birmingham Midshires that I can just throw them away (they took some details inc. NI and did an identity check)?

Edit: hmmm on closer comparison the BMidshires version allows partial withdrawals (at a penalty albeit) whereas the Coventry one is early closure withdrawals only. Also BMidshires allows transfers in and out.

PosterBoy77

I have applied for the BM one and will stick with it, even though I would prefer to deal with Coventry. The BM one is a 5 year one, whereas the Coventry one matures on 31 may 2016, which will be past the ISA season and may mean the best products to transfer into then are no longer on sale. I try and get my FRISAs to mature around the end of a tax year, to give the best choice of onward transfer to another good deal.