moneysupermarket.com: Coventry Bank's Sixty-Plus eSave account

Commenting on the launch of Coventry Bank's Sixty-Plus eSave account, Kevin Mountford, head of savings at price comparison website moneysupermarket.com, said:
“Coventry’s launch of its Sixty-Plus online savings account signals the start of a new era in silver saving. The account offering a best buy rate of 6.2 per cent gross pa, fixed until March 2008, will increase competition in this once stagnant market.

“The launch of this online-only product shows Coventry is responding to changes in how the over-60s shop for products. Banks and building societies are recognising the mature consumer has taken to the web to find the best deals. About 22 per cent of website visits in the UK are among the over 55s, second only to the 35-44 age-group.

“With more silver surfers than ever, providers are rethinking their approach, introducing innovative products to savvy seniors. For the mature market, this means more competition and a chance to shop around for the best deals.”