12 September 2006
Coventry Building Society has launched an account which is specifically designed for the over 60s.
Available from tomorrow, the new product adds to the range of existing Sixty-Plus accounts. The new account pays a market leading interest rate of 5.35% variable and customers can also benefit from a monthly interest option.
The account guarantees to offer the Bank of England base rate until December 31st 2007 and also has a 0.6% AER bonus for the first year from the account opening.
Colin Franklin, Coventry head of sales, said: "We are pleased to launch the new Sixty-Plus Notice Account extending our range for the over 60s and the addition of this account complements our existing instant access and fixed rate accounts for this age group.
"We know that our older generation customers are really keen on this type of account and for those who have larger balances available and are able to put their money away for longer, this will offer them even more choice."
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