If you’re looking for an online savings account, with instant access and a leading interest rate then the Poppy Online Saver from the Coventry Building Society could be for you.
What is the Poppy Online Saver?
The Poppy Online Saver is an instant access savings account from the Coventry Building Society which offers an interest rate of 3.15% AER (including a first years bonus of 1.15% AER).
You can invest from £1 to £250,000 and you are allowed 4 penalty free withdrawals each year (additional withdrawals subject to a charge equal to 50 days’ interest on the amount withdrawn).
You can choose to receive interest payments either annually on the anniversary of account opening or monthly on the last day of the month. If you are a non-taxpayer then you can receive interest gross on completion or an R85 form.
So is the Coventry Building Society Poppy Online Saver any good?
If you are looking for an instant access savings account which can be operated online then the Poppy Online Saver could be for you – As long as you will not need to make more than 4 withdrawals each year and you assess the account after the first 12 months (when the introductory bonus of 1.15% expires).
And The Coventry will make an annual donation to The Royal British Legion based on total balances held on the account. So in the words of Mr Derek Trotter of Peckham, “Everyone’s a winner”.