Coventry improves its Sixty-Plus savings range

Coventry Building Society is improving its Sixty-Plus range of accounts by extending the guarantee on its Sixty-Plus Notice account and launching a new Sixty-Plus Bond.

From today the Sixty-Plus Notice account is guaranteed to at least equal the Bank of England Base Rate to 30 September 2008. The account offers a rate of 5.85% variable (AER/gross pa), which includes a 0.60% AER bonus for the first year from account opening. Savers require a minimum £10,000 investment and are allowed unlimited deposits, up to a maximum of £250,000. Penalty-free withdrawals are permitted with 60 days’ notice.

The Sixty-Plus Bond which will be launched on Friday 11 May is fixed at a competitive 5.90% (AER/gross pa) to 31 May 2008. Furthermore, for the first two maturities, customers will be offered a product which will beat Bank of England Base Rate by at least 0.25%. For as long as this product is available to new investors, savers can add additional deposits to their account. The minimum investment is £1,000 (maximum £250,000).