Bank of England Base Rate 

Do these changes affect my Coventry Building Society savings account?

It depends on the type of account you have with us:

Fixed - Your account won’t be affected because the interest rate is set for an agreed length of time.

Variable - We’ll send you a letter or email in the coming weeks if your variable interest rate is going to change.

Why hasn’t my rate gone down by the same amount as Bank of England Base Rate decreased by?

Our savings rates are not linked to the Bank of England Base Rate but it’s one of the factors we take into consideration when we review our rates. We’re committed to offering you great long-term value and ensure we offer the best rates we can.

What’s the current interest rate on my account? Is the rate fixed or variable?

To find out the interest rate you’re currently receiving on your account:

• Log into Online Services (if you're registered) and select your account. Your interest rate is displayed on the 'My actions' page.
• Look at our range of accounts. If your account is no longer available to new customers, you’ll find it listed under closed accounts.
• Contact us.

Whenever we list an interest rate, we always state whether it’s fixed or variable.

Will my interest rate decrease? 

You can see what the new rate on your account will be below:

• New rates on our variable ISAs and variable savings accounts

Will rates be decreasing if base rate goes down again?

We continually review our rates and monitor market movement to make sure we offer long-term value to our members.

If the deal you're on now is ending in the next four months - or if you're on a variable rate - you can arrange to transfer your mortgage now. No need for payslips, proof of ID, or application forms. Just choose a product, and we'll guide you through the rest.

Homeowner mortgages

Landlord mortgages

Alternatively, if you would like advice on which product might be best for you, give us a call on 0800 121 8899.

Call wait times may be a bit longer than normal. Before you call, please check if your question is answered below. We apologise for any inconvenience; our teams are working hard to make sure we speak to you as soon as possible.

If you pay by: 

Direct Debit (DD)

Your payment will change automatically so you don’t need to do anything.

Standing Order

You’ll need to change the repayment amount with your bank/building society directly. Alternatively, we can set up DD so that we can manage these changes for you.