Coventry
Building Society is set to launch a new
savings option for the over 60s.
The Sixty-Plus Notice Account features an
interest rate of 5.35 per cent AER, which the company claims is
market leading.
Furthermore, the rate is guaranteed to at least equal the
Bank of England base rate until December 31st 2007, while a 0.6
per cent AER bonus is also available after one year.
Interest can be paid annually or monthly on the account, while
penalty-free withdrawals can be made with 60 days'
notice.
The minimum
investment for the savings option is £10,000, up to a maximum
of £250,000.
Colin Franklin, head of sales at Coventry, comments: 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.
Coventry Building Society offers a range of savings products for
its customers, including options for the over 60s and
teenagers.
It also provides other
financial services, such as personal loans
,
mortgages and
insurance .
