This comparison simply includes all savings accounts.
Coventry Fixed Rate Bonds
Why we like it: Interest paid annually. Unlimited deposits and withdrawals. Open and manage online. FSCS Protected. Must be UK resident and be aged 18 or older
Why we like it: Instant access to your savings. Unlimited deposits and withdrawals. Interest paid monthly, either to a linked current account, or adding it to your Online Flexi Saver account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Must be aged 18 or older and have a UK address. Must have a linked UK current account. Your eligible deposits with Investec Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)
Why we like it: Which? Recommended Savings Provider. No notice period. Deposit from £100. Interest paid monthly or annually. Apply in minutes. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services. Compensation Scheme (FSCS)
Why we like it: Unlimited payments and withdrawals. Interest paid annually. Open in a single or a joint name. Maximum deposit £250,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2024. Must be UK resident and be aged 18 or older
Why we like it: Interest calculated monthly. Unlimited deposits and withdrawals. Open and manage online. FSCS Protected. Must retain a minimum balance of £20,000 in the account. Must be UK resident and be aged 18 or older
Why we like it: All funds deposited into the RCI Bank E-Volve Savings 14 Day Notice Account will be used to fund pure electric vehicles and charging facilities. Interest paid monthly or annually. Manage account online. UK-based support, seven days a week. Which? Recommended Savings Provider. Unlimited withdrawals subject to 14 days notice. Must be UK resident. Must be aged 18 or older. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)
Why we like it: The interest rate tracks the Bank of England (BoE) Base Rate. Interest is calculated on the minimum daily balance and applied to the account on the first day of every subsequent month. Open and manage account online. Your eligible deposits are protected up to £85,000 by the Financial Services Compensation Scheme. The maximum deposit you may pay into any one OakNorth Account is £500,000. The maximum amount (excluding the interest) that you will be allowed to hold on deposit with OakNorth Bank across multiple accounts is also £500,000. Unlimited withdrawals, subject to 95 days notice. Available to individuals, aged 18 or over, who are UK residents
Why we like it: Unlimited deposits and withdrawals. Interest paid monthly: can be added to your Notice Saver or paid to your linked account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Withdrawals subject to 90 days notice. Must be aged 18 or older and have a UK address. Must have a linked UK current account
Why we like it: 3 penalty-free withdrawals in a 12 month period. 3.82% AER (variable tracker) + 0.68% AER 12 month boost. 3.75% gross variable tracker. Interest paid monthly. Deposit and withdraw almost instantly. No fees or charges for holding account. FSCS eligible on your deposits. After 3 withdrawals within a 12 month period the rate will revert to either 3.40% AER (variable tracker with boost applied) or 2.72% AER (variable tracker) for the remainder of the 12 month period since opening the account. Must be UK resident. Must be aged 18 or older
Why we like it: 9 month term, minimum deposit £1,000, no withdrawals permitted. FSCS Protected
Why we like it: Interest paid on maturity. Automatic repayment to your linked account. Maximum deposit £250,000. FSCS Protected. Must have a UK residential address and be aged 18 or older. No withdrawals permitted
Why we like it: 1 year term, minimum deposit £1,000, no withdrawals permitted. FSCS Protected
Is a Coventry fixed rate bond right for you?
Getting the best return on your savings isn’t always straight forward and can involve placing your money into several different products. The majority of savings accounts usually offer the best rates of interest, but they usually have a relatively low threshold or maximum balance .
Fixed rate bonds offer a dependable return on your savings in exchange for not being able to access your money for the term of the bond. They usually have a much higher maximum amount on which they will pay interest compared to savings accounts, so are great for those with more significant savings.
Most banks and building societies offer fixed term bonds that run for 1 year, 2 years, 3 years or 5 years and you will generally earn a higher rate of interest the longer the term of the bond is. You may be able to take money out before the bond matures in exchange for giving up some of your interest payments.
Fixed rate bonds can be an excellent way of getting more out of your money, especially if you are concerned about your savings losing real world value due to the effects of inflation. They can be set up in parallel to your existing current account so should not impact on your regular banking processes.
Compare Coventry fixed rate bonds
The Coventry Building Society provide a range of different savings accounts aimed at different types of customers. Some of their most popular products, which offer an alternative to fixed rate bonds, are their fixed rate ISAs. These also offer a guaranteed interest rate in exchange for locking your money away for a set period.
The key difference is that the interest you earn on a fixed rate ISA is tax-free up to a set yearly limit (£20,000 for the current tax year). This makes taking out an ISA a sensible choice for at least part of your savings. Find out more about ISAs here.
Getting the best deal on fixed rate bonds
Banks and building societies change their products and the interest rates and features they offer with them on a regular basis. This is to reflect the ever shifting market and customer demand.
This can make it difficult to know what are the best deals on fixed rate bonds currently available, leaving it harder to choose the right product for you. Our comparison table above is constantly updated with the most attractive offers on the market, taking the hassle and confusion out of the decision-making process.
If you are going to invest in a fixed rate bond, make sure you have a clear idea of the return you would like to achieve and your likely financial circumstances over the term of the bond. This should help to ensure that you end up with a deal that works for you.
