Coventry's 50 Plus eSave rate increased

Coventry Building Society is increasing the rate on its best buy 50 Plus eSave account with effect from Wednesday 4 June.

Rachel Haworth, head of marketing at the Coventry comments: "With many commentators predicting that future base rate reductions will be delayed until later this year, we have been able to increase the rate on our popular 50 Plus eSave account now."

The 50 Plus eSave account will pay a highly competitive rate of 6.25% (AER/gross pa) which is fixed for 12 months from the date of individual account opening. Unlike many other fixed rate accounts, the Coventry's 50 Plus eSave allows unlimited, penalty free access.

The account, which is exclusive for the over 50s, is opened and operated online, with a minimum investment of £1.

New customers wishing to apply should visit thecoventry.co.uk. Existing customers with a 50 Plus eSave account will also benefit from the increased rate.