[24 FEB 00] COVENTRY
BUILDING SOCIETY PRESS RELEASE
CallSave Instant - Now Even Better
"Rate guaranteed"
"No hidden strings" "No restricted
withdrawals"
The interest rate on Coventry’s
highly competitive telephone savings account, CallSave Instant, is
increasing by 0.25% to 6.30% AER/gross pa from 1 March 2000.
Unlike other instant access telephone
accounts, the guaranteed minimum rate until 30 September 2000 makes it
an account with a difference and reflects the spirit of the new OFT
guidelines on fairness.
Key features of the account are:
- Annual interest rate of 6.30% AER/gross
pa
- Rate guaranteed until 30 September
2000
- CashLink Card – 24 hour access to
funds through LINK network (free of charge from the Coventry)
- Withdrawals by telephone to
nominated account via BACS
- Minimum investment £5,000
- Telephone lines open 7 days a
week
 Martin
Ritchley, chief executive commented:
"Our telephone account has become our most
successful savings account ever. Feedback from our customers has
shown they like the flexibility and convenience that saving over
the telephone offers and in particular they prefer a guaranteed
rate of interest instead of a short-lived, headline grabbing
bonus."
NOTES:
- CallSave Instant and CallSave
Instant II both carry the same rates, guarantees and all terms and
conditions are identical
- The Society’s other savings
accounts are being reviewed and an announcement will be made prior
to 1 March
|
|
Annual Interest
|
Monthly Interest
|
|
Gross
|
AER
|
Net
|
Gross
|
AER
|
Net
|
|
£5,000+ |
6.30% |
6.30%
|
5.04%
|
6.10%
|
6.27%
|
4.88% |
|
Minimum investment £5,000
CashLink card option for
withdrawal of amounts up to £250 per day at any LINK ATM in
the UK, free of charge from Coventry Building Society
Withdrawals by BACS to a
nominated account for £250 or more by telephone only
Deposits can be made by cheque
or standing order
Annual or monthly income
option
Quarterly statements
Account can be opened over the
telephone (or at any Coventry branch)
Telephone lines open 7 days a
week – Mon to Fri 9am-7pm; Sat 9am-5pm; Sun 10am-4pm
|
MORE INFORMATION: Yvonne
White
|
