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Coventry First account rate increased to 5.46% gross (5.60% AER)

According to Moneyfacts, Coventry Building Society's First (savings/current) account rate will increase, from 5.22% gross to 5.46% gross. Therefore the AER is going up from 5.35% to 5.60% (if my calculations are correct).

Coventry First guarantee to pay BOE base rate +0.60% for the first year after the account has been opened. You must deposit £1,000 per month to receive the higher rate of interest, otherwise the account will pay a nominal sum.

Here is the link to the current accounts list on Moneyfacts.
Please call me 'Kazza'.
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