Although it might not sound like a key player in the UK banking scene, Coventry Building Society is in fact the UK’s second largest building society (behind Nationwide), and eighth largest lender. Less surprising (given that it’s a building society), is that it’s a savings and mortgages specialist – regularly offering table-topping rates in both categories. It has also partnered with Hargreaves Lansdown to offer savings accounts through the hugely popular Hargreaves platform. In August 2024, Coventry launched its innovative Sunny Day Saver regular savings account that offers a monthly prize draw as well as paying good interest.
Coventry Building Society's top savings rate of 5% is available on one of its regular savings accounts.
We currently don't have that product, but here are others to consider:
How we picked theseWe currently don't have that product, but here are others to consider:
How we picked theseWe currently don't have that product, but here are others to consider:
How we picked these
The process for opening a savings account with Coventry Building Society will depend on the account you’ve chosen. But you can usually open it online, by post, over the phone or in branch.
With the exception of the children’s accounts, you will need to be at least 16 years old and a UK resident to open an account.
To open an account, you will need to provide proof of ID such as a passport or UK driving licence. You will also need to provide proof of address such as a council tax bill or a recent bank statement or utility bill.
Yes, Coventry Building Society is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and PRA. This means all eligible deposits are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS). This rises to £170,000 for joint accounts.
| Email support | |
|---|---|
| Telephone support | |
| In-app or live chat | |
| Contact form | |
| Branch support |
If you’re looking for a new savings account, Coventry Building Society certainly has a wide range to choose from. As well as traditional fixed rate bonds, cash ISAs and easy access accounts, it also offers more bespoke accounts such as its Additional Allowance ISA for those who have lost a partner and a First Home Saver account for those looking to get on the property ladder.
However, as with any type of financial product, before applying for an account, make sure you’ve compared what else is on the market to be sure you’re getting the best deal.
Sign up to receive the latest deals, expert tips, and a chance to win £800! (T&Cs)
Error placeholder Click here to sign in
Our research found that 41% of Brits work from home at least some of the time as of September 2024. We look at who is working from home and how working from home affects productivity.
High inflation could be making your savings accounts lose value in “real terms”. We look at historical savings versus inflation rates.
Compare Zopa’s savings accounts, including interest rates and accessibility.
Find out more about the different types of savings accounts on offer.
See how much money people your age have in savings, and learn how to boost your savings balance if it’s below average.
We look at the definition of compound interest, what it concretely means and how you can use it to grow your savings more quickly.
It’s a straightforward and convenient process, but paying with a credit card may be safer.
What if you could get both great interest rates and access to your money? We’re not quite there yet, but notice savings accounts come close.
Raisin UK is a marketplace for savings accounts. Our review looks at how the platform works, as well as its pros and cons.
Kickstart your savings plan with a high interest savings account.