Coventry 2 Year Bond

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I was beginning to wonder about Coventry Building Society and their lack of accounts. But they now have a two year fixed interest bond maturing 30 April 2019 and withdrawals not allowed. Not such a good deal at 1.10% AER but good if an ethical mutual is wanted.

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  • dale_cotterill
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    Most likely means they just don't need the money at this moment in time. People too often forget that the main point of offering savings products is in order to fund lending.

    1.10% for 2 years is quite competitive amongst the established brands, but at the same time it is just 1.10% for 2 years.
  • bowlhead99
    bowlhead99 Posts: 12,295 Forumite
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    1.10% for 2 years is quite competitive amongst the established brands, but at the same time it is just 1.10% for 2 years.
    Yes, they're paying over 4x base rate which can't be sniffed at of you want a mutual and have exhausted the other better options on small amounts of money here and there.

    It is "just" 1.1% on that deposit for two years, but they will lend you half a million quid for two years at a fix of "just" 1.29% if you have a good loan to value on a property. That does involve an arrangement fee of £999 (valuation included) but that's only a one-time 0.2% of a half million quid mortgage anyway.

    So it's not like they're price gouging and have given up on their customers.
  • fortyniner
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    As usual I'm not sure if this is the right place : but isn't it time that NS&I reintroduced their inflation beating savings accounts ?
  • badger09
    badger09 Posts: 11,247 Forumite
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    fortyniner wrote: »
    As usual I'm not sure if this is the right place : but isn't it time that NS&I reintroduced their inflation beating savings accounts ?

    From whose perspective?
  • antrobus
    antrobus Posts: 17,386 Forumite
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    ..1.10% for 2 years is quite competitive amongst the established brands, but at the same time it is just 1.10% for 2 years.

    On the other hand, RCI Bank are offering 1.10% on their 'easy access' account. A 2 year fix would be 1.55%. Of course, RCI Bank probably do all sorts of unethical things with the money; probably funding PCP deals for Renault UK.:)
  • Malthusian
    Malthusian Posts: 10,980 Forumite
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    fortyniner wrote: »
    As usual I'm not sure if this is the right place : but isn't it time that NS&I reintroduced their inflation beating savings accounts ?

    No, we aren't due a General Election until 2020.
  • fortyniner
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    Isn't that a little cynical ?
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