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Bank rate Coventry BS
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No increase on the Limited Access Saver 6, wasn't hoping for much just perhaps 0.10%..😥.
But as it still beats other Easy Access accounts at 3.25% there's no pressure on Coventry to raise it.
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Given that there are 8 regular savers currently available on the market matching, or significantly exceeding, the Coventry First Home Saver rate, I was surprised that they didn't increase it at all - even to 5.25% to match Club LloydsIf you want me to definitely see your reply, please tag me @forumuser7 Thank you.
N.B. (Amended from Forum Rules): You must investigate, and check several times, before you make any decisions or take any action based on any information you glean from any of my content, as nothing I post is advice, rather it is personal opinion and is solely for discussion purposes. I research before my posts, and I never intend to share anything that is misleading, misinforming, or out of date, but don't rely on everything you read. Some of the information changes quickly, is my own opinion or may be incorrect. Verify anything you read before acting on it to protect yourself because you are responsible for any action you consequently make... DYOR, YMMV etc.0 -
I read through the article twice but must admit to missing any hint as to why there may be more to come in the next couple of weeks from Coventry? Is it that the changes already announced come into effect on 1st March or have I missed something?frugalmacdugal said:1 -
Yes March 1st to many of their accounts but not the limited access saver 60
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You can pay £1000 per month into the Coventry FSH which is much higher than all the others and it runs for 36 months. Plus with a lot of the others you have to have a current account linked to them with certain conditions attached to them.ForumUser7 said:Given that there are 8 regular savers currently available on the market matching, or significantly exceeding, the Coventry First Home Saver rate, I was surprised that they didn't increase it at all - even to 5.25% to match Club Lloyds3 -
The new rates for March 1 - when mortgages change too - are on the Coventry website https://www.coventrybuildingsociety.co.uk/member/help/member-support/bank-of-england-base-rate.html so there's no more changes expected. There may be more rises after the next BoE next month but as this is possibly the first time Coventry havent increased their top limited after a BoE rise so large future increases do seem less likely.0
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Yes, I was hoping for an increase in the 6 Access account too, but tumbleweed persists, along with a slightly better 1 Year Fix (or 14 month) than the 4.2% on offer to existing customers.MikeJXE said:Yes March 1st to many of their accounts but not the limited access saver 6
My question to frugalmacdugal is whether I missed any hint of more announcements to come or have I misunderstood his post?0 -
It is a generous deposit limit on the FHS, but if you were to open the first direct, club lloyds, NatWest, and RBS you could pay in £1000 total per month, earning between 5.25% and 7%. Granted, Coventry is easier though because it's one account and you can pay it all in one payment.Stargunner said:
You can pay £1000 per month into the Coventry FSH which is much higher than all the othersForumUser7 said:Given that there are 8 regular savers currently available on the market matching, or significantly exceeding, the Coventry First Home Saver rate, I was surprised that they didn't increase it at all - even to 5.25% to match Club LloydsIf you want me to definitely see your reply, please tag me @forumuser7 Thank you.
N.B. (Amended from Forum Rules): You must investigate, and check several times, before you make any decisions or take any action based on any information you glean from any of my content, as nothing I post is advice, rather it is personal opinion and is solely for discussion purposes. I research before my posts, and I never intend to share anything that is misleading, misinforming, or out of date, but don't rely on everything you read. Some of the information changes quickly, is my own opinion or may be incorrect. Verify anything you read before acting on it to protect yourself because you are responsible for any action you consequently make... DYOR, YMMV etc.0 -
As they pulled the account on 19.12.2022, I suspect they aren't particularly bothered.ForumUser7 said:Given that there are 8 regular savers currently available on the market matching, or significantly exceeding, the Coventry First Home Saver rate, I was surprised that they didn't increase it at all - even to 5.25% to match Club Lloyds
It's not like you can just pull all the money out of it and put it somewhere >5%1
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