Building society launches accounts with ‘market-leading’ interest rate

Coventry Building Society has confirmed the introduction of three ‘market-leading’ Fixed Rate ISAs available to new and existing members. On top of this, the building society is launching three new Fixed Bonds savings accounts which are paying interest rates of up to 4.75 percent. Alongside this product launch, Coventry Building Society is offering an online Easy Access savings account paying 1.85 percent and an online Limited Access account which pays a competitive rate of 2.25 percent.It should be noted that the variable rate Limited Access and Easy Access accounts are only available online.In comparison, both the new ISA and Fixed Bonds accounts can be opened with a minimum of £1 online, at a branch, by phone or by post.Recently, the Bank of England has raised the country’s base rate over consecutive months to compete with rising inflation, which is diminishing returns for savers.With interest rates of up to 4.75 percent, it appears that Coventry Building Society is passing on this rate hike to their customers.READ MORE: 70 health conditions qualify for extra £156 a week in PIP from DWP Coventry Building Society launches savings accounts with ‘market-leading’ interest rate (Image: GETTY)Among the new range of Fixed Rate ISAs which are now on offer from Coventry Building Society include:One Year Fixed Rate ISA (197) – which pays 3.95 percent AER fixed until November 30, 2023Two year Fixed Rate ISA (198) – which pays 4.35 percent AER fixed until November 30, 2024Three Year Fixed Rate ISA (199) – which pays 4.40 percent AER fixed until November 30, 2025.DON’T MISSState pension sum may be less if you were ‘contracted out’ – check now [WARNING]What the falling pound will mean for YOUR finances [ALERT]Single mum on Universal Credit shares her top tips for saving money [INSIGHT]450,000 people may be placed on energy prepayment meters [ALERT]On top of this, Coventry Building Society’s new range of Fixed Bonds savings account include the following: What is an ISA? (Image: EXPRESS.CO.UK)The building society’s representative shared who these latest products are designed specifically for.He added: ‘Our range of fixed ISAs and bonds provide choices for people who are comfortable fixing their savings for up to three years.’On the other hand, savers with limited or easy access accounts like the flexibility to dip into their savings.’Our members can be reassured that money in their online easy access account will pay good rates of interest and our limited access account is ideal for those who aren’t likely to withdraw money more than every couple of months.’