Coventry launches first ever Poppy ISA

Coventry Building Society has launched it's first ever Poppy ISA, with easy access and a guaranteed rate of at least 2.50% tax free/AER p.a. until 5th April 2014.

Available from Saturday 6th April for the new tax year;

Introductory bonus of 0.50% for the first 12 months leaving a great underlying rate of 2.00%.

An annual donation equal to 0.10% of the average balances will be paid by the Society to The Royal British Legion.

A guarantee that the AER will be at least equal to 2.50% until 5th April 2014.

Savers can make penalty free withdrawals at any time.

Savers can either deposit a single lump sum, or make regular payments through the 2013/14 tax year up to the maximum of £5,760.

Transfers of previous years Cash ISA funds are not permitted.

Savers can invest from as little as £1.
 
Chris Simpkins, Director General of The Royal British Legion said : "Chris Simpkins, Director General of The Royal British Legion said: "This fantastic partnership continues to go from strength to strength. Thanks to the support of the Coventry Building Society, over £7.5 million has been raised for the Poppy Appeal since 2008. This has made a massive difference and helped us to continue supporting the Armed Forces community. This is an extraordinary amount and is helping to fund numerous projects including our Benefits and Money Advice service which offers impartial advice and support on financial matters, from dealing with debts to maximising income."
 
Colin Franklin, Sales and Marketing Director at Coventry Building Society, said: " We are absolutely delighted to be launching our first ever Poppy ISA. In the current low base rate environment, it's more important than ever that savings are working as hard as possible, so savers need to make the most of their tax free allowance. Paying a best buy rate of 2.50% tax free/AER p.a. on balances from as little as £1.00, we are confident that our new Poppy ISA will lead to another impressive donation for The Royal British Legion"
 
For more information, visit coventrybuildingsociety.co.uk.