Coventry BS' Member Loyalty Account

someone

As pointed out by @schiff in the "Regular Savings Accounts: The Best Currently Available List" post Coventry BS will be launching an account to "reward members who’ve been with us for a certain period of time.

It continues to be a difficult time for savers but we’re still offering market-leading rates and supporting savers with exceptional service levels. Our new member loyalty account - coming soon - will reward members who’ve been with us for a certain period of time.

Anyone hear any rumours about what the account might look like?

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Edit: 12 Aug 2021 - Account now launched 21 day notice, max £20k, 0.65% 1 year account.

https://www.coventrybuildingsociety.co.uk/member/product/savings/limited_access/loyalty-21-day-notice-saver.html

GreenBitterfly

Thanks for the update. I can't remember when I first opened a Coventry Building Society account (but I know it's not been that long), I'll keep an eye out and see if I'm eligible. 

colsten

Probably a regular saver paying 1.1%. Just a wild guess

strawb_shortcake

We're nearly at two years as customers so hoping its something tempting 

pbartlett

I agree with @colsten - prob 1.1% but would add on a max of £25 a month.

Frogletina

I've been a customer for almost 50 years....I'm glad loyalty is being rewarded.

Chadsman

My ex Stroud & Swindon Regular Saver Plus (now a closed issue) still has an interest rate of 1.8% so maybe the new account will have the same rate.
Why are people speculating it will pay 1.1%. Is that informed by anything in particular?

gozaimasu

Chadsman said:
Why are people speculating it will pay 1.1%. Is that informed by anything in particular?

Probably expecting a paltry interest rate that is only just above market leading. Which would be a slap in the face since anyone else can get 1.05% with their regular saver on up to £500. Nationwide's "loyalty" accounts are poor so I don't see how Coventry would be any better.

veryintrigued

Thanks for that.

It'll take the place of the one they've just closed on me!!

strawb_shortcake

Just had the email about this account only to say it's coming soon, also mentions a new savings account specifically for 1st time buyers too

thor

Let's hope their offering is anywhere near as good as Yorkshire Building Society's loyalty regular savings account. YB have certainly gone up in my estimation in the last few months.