Coventry Building Society is taking another step into the online finance world with the launch today of a new 6.75% fixed rate savings bond.

The new Fixed Rate Bond guarantees to pay a fixed rate of 6.75% (AER/gross pa) until 30 September 2001 and is only available by application through the Society's website www.coventrybuildingsociety.co.uk.

The interest rate is reckoned to be market leading by the Building society and will only be available for a limited time. The minimum investment is £1,000.

Martin Ritchley, Chief Executive said:

"In the present uncertain investment environment, this market leading bond will offer savers a "safe haven" for their money with a guaranteed return.

"I would urge customers to apply without delay as the Bond will only be available for a limited period. Applying couldn't be easier - customers can complete their on-line application through a very straightforward process on our internet site, which is quick, easy and secure."