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More good news for savers as Coventry and Santander launch top accounts
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Two major savings providers launched top accounts this week.
Santander offers an easily accessible 2.75 percent deal – the highest rate in a decade.
Coventry Building Society has a new one-year fixed bond that pays 4.4 percent. The Santander eSaver Limited Edition is available online or via the bank’s mobile app and requires a minimum deposit of £1.
Coventry Building Society has a new one-year fixed bond that pays 4.4% with a minimum deposit of £1 and is available online, by phone, post or in the office
It will be on sale until early next month, unless it sells out sooner. The rate is variable.
But you have to put a note in your calendar to move your money after a year.
At this point it will be moved to Santander Everyday Saver.
The interest on this account has hardly shifted since the base rate rose from 0.1 percent to 2.25 percent.
It pays just 0.2 percent, one of the worst easily accessible rates on offer.
Coventry’s new deal also has a minimum deposit of £1 and is available online, by phone, by post or in branches.
The rate is fixed until December 31 next year. The two-year bond pays 4.7 percent or it offers 4.85 percent for three years.
Meanwhile, five-year rates at Atom Bank have finally crossed the 5 percent threshold.
But experts say the extra interest you’ll earn isn’t enough to lock in your money in the long run.