Coventry Building Society

Fatherjacob

Hi i suppose im not the only one eagerly awating news on the Coventry Building societys increase across all savings accounts ,as promised .
Finger crossed they'll be generous , 
Im kind of curious as to when they will release these new rates, is thier intent to annouce the rates in the new month so then can then say "these rates will be actived in august" ?
Some banks building societies ,rates take affect on the same day ,but i dont think Coventry do ,they prefer it at the start of the month .

Fredw56

Answer published today. Increases as of 7th July. 

sparkyspark

ISA's Rate Changes https://www.coventrybuildingsociety.co.uk/content/dam/cbs/member/pdfs/savings/rate-change-notice-isa.pdf

Variable Rate Changes https://www.coventrybuildingsociety.co.uk/content/dam/cbs/member/pdfs/savings/rate-change-notice-savings.pdf

Fatherjacob

Im happy will the increase, and really pleased that the interest will start during the early part of next month ,.

r6mile

Very pleased they have increase the rate of their Limited Access ISA by 0.6% to 4.1%.

However less pleased that they have closed their Four Access Saver (which is going up to 4.5%) to new applicants, as I was waiting to see what their rate increase was before I opened one. I guess I should have opened one just in case!

TiVo_Lad

r6mile said:

Very pleased they have increase the rate of their Limited Access ISA by 0.6% to 4.1%.

However less pleased that they have closed their Four Access Saver (which is going up to 4.5%) to new applicants, as I was waiting to see what their rate increase was before I opened one. I guess I should have opened one just in case!

The general rule is grab an account while you can and then decide whether you want to use it or not.

r6mile

Which I have done now! I have grabbed the Newcastle Building Society account at 4.3% which tracks the BOE rate by -0.7%. Seems a very decent deal for an unlimited access account, and actually compares well with the Coventry one which would have been 4.5% for up to 4 withdrawals. And at least you have the guarantee it will track the BOE rate.

SJMALBA

r6mile said:

Very pleased they have increase the rate of their Limited Access ISA by 0.6% to 4.1%.

However less pleased that they have closed their Four Access Saver (which is going up to 4.5%) to new applicants, as I was waiting to see what their rate increase was before I opened one. I guess I should have opened one just in case!

Not the first time that CBS have made accounts NLA to coincide with an increase.

r6mile

Yes seems fair enough, and maybe to compensate somewhat they have significantly increase the rate on the limited access ISA. 4.1% comfortably makes them the best easy (though admittedly not unlimited) access ISA.

db3745

Thanks for drawing attention to the rate increases. Though they trailed their reviewing of rates a week ago I'm still waiting their email with actual info. 0.7% sounds good to me. Better fixed rate ISA rates than most high street banks too.

I'd avoided Coventry for a few years as I found their log-in process a nuisance but pleased I swallowed my pride back in Jan. and opened a Limited Saver. Have to laugh at myself as I keep seeing their Loyalty Bond releases,some of which look attractive, open to customers with them since Jan. 2022, and can't believe I only returned in Jan this year. Another year to go at least!

r6mile

I have my mortgage with them - taken out for 5 years in January 2022 at 1.09%! Am so grateful at the moment that they will always be my first choice! Yes login is a bit annoying and and they don’t have an app, but once you get the hang of it it’s pretty quick.