Coventry Building Society has launched a new savings account for its loyal members to encourage better savings habits in the new year.
Announcing the account, it said it offered a “market leading” rate of 6% for a regular saver.
It can be opened by those who have been with the society continuously since at least 1 January 2024.
The account lasts for 12 months and savers can deposit up to £250 each month.
It can be opened with as little as £1 and there’s no requirement to save every month.
After 12 months, the account matures into Easy Access Saver – a variable rate account which allows unlimited withdrawals and currently pays a rate of 2.65%.
To help savers use their savings pots flexibly over the festive period, the 30-day interest withdrawal charge will be removed at the start of November 2025.
So, how does it compare to other regular saver products on the market…
Well, according to saving experts The Private Office, the top account is from Principality Building Society, offering 8%.
That’s followed by the Co-operative Bank, which has a regular saver account offering 7%.
You can see its top accounts below…
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