The new 60-plus eSave account offers a competitive 6.20% gross per annum, which is fixed until March 31, 2008, as well as easy penalty-free access. The account is opened and operated online and the minimum investment is GBP1, while the maximum investment is GBP250,000.
According to UK payments association Apacs, 2006 saw a record 18.1 million Britons using online banking services.
Colin Franklin, head of sales at the Coventry Building Society, comments: As the provider of the widest range of savings products specifically for the over-60s, and with one third of our own online customers aged 60 or over, our experience shows that this age group are more than happy to deal with their finances online.
We also recognize that customers like the security of a fixed rate, which we are offering through to March next year, but with the added benefit that they can get access to their savings whenever they want. We believe this combination will prove to be extremely popular in this growing market, Mr Franklin concluded.
