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Coventry increases rate on 50 Plus eSave account
16.05.2008
Coventry Building Society has announced it is increasing the rate on its 50 Plus eSave account to 6.10 per cent for 12 months from the date of account opening.
The maximum investment is £250,000 and the account can be opened and managed online.
In contrast to some fixed-rate savings accounts, the 50 Plus eSave offers customers penalty-free access.
Coventry guarantees AERs (annual equivalent rates) equal the Bank of England base rate for six months after customers open an account.
Earlier this month, Alliance and Leicester also made improvements to its eSaver account.
The maximum balance on the account was raised from £75,000 to £500,000 and the interest rate remained stable.
Hetal Parmar, savings manager at Alliance and Leicester, said: "We are pleased to announce that the interest rate remains at 6.5 per cent on eSaver. eSaver is an ideal long term savings account which has consistently offered a solid return to savers alongside the option of drawing a regular monthly income."
The maximum investment is £250,000 and the account can be opened and managed online.
In contrast to some fixed-rate savings accounts, the 50 Plus eSave offers customers penalty-free access.
Coventry guarantees AERs (annual equivalent rates) equal the Bank of England base rate for six months after customers open an account.
Earlier this month, Alliance and Leicester also made improvements to its eSaver account.
The maximum balance on the account was raised from £75,000 to £500,000 and the interest rate remained stable.
Hetal Parmar, savings manager at Alliance and Leicester, said: "We are pleased to announce that the interest rate remains at 6.5 per cent on eSaver. eSaver is an ideal long term savings account which has consistently offered a solid return to savers alongside the option of drawing a regular monthly income."