Coventry Building Society savings review

Coventry Building Society offers a broad range of savings accounts with interest rates up to 5.05%. As well as offering accounts to customers directly, it has partnered with Hargreaves Lansdown to offer accounts through the Hargreaves platform.

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Coventry Building Society

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.

Coventry Building Society's top savings rate of 5.05% is available on one of its regular savings accounts.

Easy access savings accounts

Table: sorted by interest rate
Coventry Building Society's best easy access rate of 3.4% is significantly lower than today's market-best rate of 7.49%.
1 - 5 of 9
Name Product Account type Withdrawals Min. opening balance Interest rate Deposit protection Open via Incentive Apply link
Coventry BS – Easy Access (Online) (5)
Variable
Instant access
£1
3.4% AER variable
FSCS logo
protected
Open via: website
Go to site
View details
Coventry BS – Easy Access (Online) (5)
Variable
Instant access
£1
3.4% AER variable
FSCS logo
protected
Open via: website
Go to site
View details
Coventry BS – Easy Access ISA (Online) (5)
Cash ISA
Instant access
£1
3.4% AER variable
FSCS logo
protected
Open via: website
Go to site
View details
Coventry BS – Easy Access ISA (Online) (5)
Cash ISA
Instant access
£1
3.4% AER variable
FSCS logo
protected
Open via: website
Go to site
View details
Coventry BS – Additional Allowance ISA
Cash ISA
Instant access
£1
3.15% AER variable
FSCS logo
protected
Open via: post
Go to site
View details
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Cash ISAs

Table: sorted by interest rate
Coventry Building Society's best cash ISA rate of 4.2% is slightly lower than today's market-best rate of 5.1%.
1 - 5 of 9
Name Product Interest rate Minimum investment Interest paid Withdrawals Deposit protection Open via Incentive Table product description Apply link
Coventry BS – Fixed Rate ISA (246) 31.05.2026
4.2% AER fixed until 31.05.26
£1
Yearly
Instant access (charge applies )
FSCS logo
protected
Open via: branch, website, post, telephone
Go to site
View details
Coventry BS – Fixed Rate ISA (246) 31.05.2026
4.2% AER fixed until 31.05.26
£1
Monthly
Instant access (charge applies )
FSCS logo
protected
Open via: branch, website, post, telephone
Go to site
View details
Coventry BS – Fixed Rate ISA (247) 31.05.2027
4.05% AER fixed until 31.05.27
£1
Monthly
Instant access (charge applies )
FSCS logo
protected
Open via: branch, website, post, telephone
Go to site
View details
Coventry BS – Fixed Rate ISA (247) 31.05.2027
4.05% AER fixed until 31.05.27
£1
Yearly
Instant access (charge applies )
FSCS logo
protected
Open via: branch, website, post, telephone
Go to site
View details
Coventry BS – Easy Access ISA (Online) (5)
3.4% AER variable
£1
Monthly
Instant access
FSCS logo
protected
Open via: website
Go to site
View details
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Fixed-rate bonds

Table: sorted by interest rate
Coventry Building Society's best fixed-rate bond rate of 4.3% is lower than today's market-best rate of 5.5%.
1 - 4 of 4
Name Product Interest rate Invest Interest paid Withdrawals Open via Deposit protection Open via Incentive Table product description Apply link
Coventry BS – Fixed Bond (340) 31.08.2026
4.3% AER fixed until 31.08.26
£1 - £250,000
Monthly
Withdrawals not permitted
Branch, website, post, telephone
FSCS logo
protected
Open via: branch, website, post, telephone
Go to site
View details
Coventry BS – Fixed Bond (340) 31.08.2026
4.3% AER fixed until 31.08.26
£1 - £250,000
Yearly
Withdrawals not permitted
Branch, website, post, telephone
FSCS logo
protected
Open via: branch, website, post, telephone
Go to site
View details
Coventry BS – Fixed Bond (342) 31.08.2027
4.15% AER fixed until 31.08.27
£1 - £250,000
Monthly
Withdrawals not permitted
Branch, website, post, telephone
FSCS logo
protected
Open via: branch, website, post, telephone
Go to site
View details
Coventry BS – Fixed Bond (342) 31.08.2027
4.15% AER fixed until 31.08.27
£1 - £250,000
Yearly
Withdrawals not permitted
Branch, website, post, telephone
FSCS logo
protected
Open via: branch, website, post, telephone
Go to site
View details
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Regular savings accounts

Table: sorted by interest rate
Coventry Building Society's best regular savings account rate of 5.05% is significantly lower than today's market-best rate of 8%.
Name Product AER Save Withdrawal notice Interest paid Deposit protection Open via Incentive Apply link
OFFER
Coventry BS – First Home Saver (2)
5.05% variable (on first £37,000)
£0 to £1,000 per month
3 year bond
Anniversary of account opening
FSCS logo
protected
Open via: branch, website, post, telephone
Celebratory Bonus: If account has been opened for at least 6 consecutive months and account holder goes on to complete with Coventry Building Society on their first residential mortgage within 5 years of the First Home Saver account being opened, the account holder will received £500 cashback.
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View details
Coventry BS – Regular Saver (6)
5% variable (on first £6,000)
£0 to £500 per month
1 year bond
Anniversary of account opening
FSCS logo
protected
Open via: branch, website, post, telephone
Go to site
View details
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What is Coventry Building Society's best savings account with the highest interest rate?

The best savings account depends on what you want from your savings. If you're after fast access to your money, then an easy-access account should suit you. However, if you're happy to lock your money away for a time to access a higher rate, then a fixed-rate bond is a good option.

Finally, if you're looking to maximise your returns and shield them from income tax, consider an ISA. Below, we've listed the different types of accounts Coventry Building Society offers, plus the highest interest rate currently available.

Savings account types include Easy access, cash ISAs, fixed-rate bonds, regular savers
Best easy access rate 3.4%
Best cash ISA rate 4.2%
Best fixed-rate bond rate 4.3%
Best regular saver rate 5.05%
Fixed bond terms 2 years 2 months - 3 years 2 months
Opening options Branch, website, post, telephone
FSCS protection

How to open an account

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.

Documents needed 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.

Is Coventry Building Society safe?

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.

Pros and cons

Pros

  • Flexibility. There’s a range of accounts to choose from, whether you’re looking for an easy access account or long-term gains.
  • Low minimum age. You can open most accounts from the age of 16.
  • Low minimum deposit. Many accounts can be opened with just £1.
  • FSCS protection. Money in accounts will be protected up to £85,000 per person.

Cons

  • Better rates elsewhere? Coventry Building Society offers some competitive interest rates, but always check what’s on offer elsewhere first.

Customer service information for Coventry Building Society

Email support
Telephone support
In-app or live chat
Contact form
Branch support

Our verdict: Is a savings account from Coventry Building Society worth it?

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.

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.

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